{"id":1004035573,"date":"2011-12-20T05:34:35","date_gmt":"2011-12-20T13:34:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004035207"},"modified":"2022-12-08T16:44:53","modified_gmt":"2022-12-09T00:44:53","slug":"hff-arranges-funding-for-boston-area-mall-houston-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-arranges-funding-for-boston-area-mall-houston-hotel\/","title":{"rendered":"HFF Arranges Funding for Boston-Area Mall, Houston Hotel"},"content":{"rendered":"<p><strong>December 20, 2011<\/strong><br \/>\n<em>By Scott Baltic, Contributing Editor <\/em><br \/>\n<div id=\"attachment_1004035208\" style=\"width: 310px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/122011-HFF-HotelZaZa.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004035208\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/122011-HFF-HotelZaZa.jpg\" alt=\"\" title=\"122011 - HFF HotelZaZa\" width=\"300\" height=\"246\" class=\"size-medium wp-image-1004035208\" \/><\/a><p id=\"caption-attachment-1004035208\" class=\"wp-caption-text\">Houston's Hotel ZaZa<\/p><\/div><\/p>\n<p>In separate transactions, Holliday Fenoglio Fowler has secured refinancing for two properties: a regional mall in suburban Boston and a boutique hotel in Houston.<\/p>\n<p>HFF\u2019s Pittsburgh office secured a permanent loan for the Square One Mall on Route 1 in Saugus, Mass. The amount of the 10-year, fixed-rate loan arranged with Deutsche Bank was not released. The securitized loan replaces maturing debt on the property and will also be sub-serviced by HFF.<\/p>\n<p>The center\u2019s owner is Mayflower Square One LLC, which includes entities partially owned by Simon Property Group, Teachers Insurance and Annuity Association of America and Canada Pension Plan.<\/p>\n<p>The mall is anchored by Macy\u2019s, Sears, Best Buy, T.J. Maxx &amp; More and Dick\u2019s Clothing &amp; Sporting Goods. In its current configuration, the mall is the result of a $100 million redevelopment by New England Development Corp. of the former New England Shopping Center, which had closed in the mid-1980s. The redeveloped mall opened in August 1994.<\/p>\n<p>HFF staff representing the borrower included executive managing director John Pelusi, managing director Claudia Steeb and director Lauren O\u2019Neil.<\/p>\n<p>One of the mall\u2019s noteworthy features is a model of the planet Neptune, 4.5 inches in diameter, in the food court. It\u2019s part of a scale model, at 1-to-400-million scale, of the entire solar system that was coordinated by Boston\u2019s Museum of Science. The sun is depicted by an 11.6-foot half-sphere in the lobby of the museum\u2019s Charles Hayden Planetarium in Boston, roughly seven miles distant.<\/p>\n<p>In the second transaction, also announced Monday, the Houston office of HFF secured a $50 million, 10-year, fixed-rate, refinancing loan through Goldman Sachs Commercial Mortgage Capital LP for Hotel ZaZa in Houston\u2019s Museum District.<\/p>\n<p>The HFF team representing the borrower was led by senior managing director Mark West, director John Bourret and associate director Colby Mueck.<\/p>\n<p>The 315-room luxury boutique hotel was built in 1925 as the Warwick Hotel and was substantially renovated before reopening in 2007 as Hotel ZaZa. Amenities include a spa, pool with private cabanas and full-service bar and grill, 21,000 square feet of meeting space, and a restaurant.<\/p>\n<p>This property and a Hotel ZaZa in Dallas are affiliated with Preferred Hotels &amp; Resorts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In separate transactions, Holliday Fenoglio Fowler has secured refinancing for two properties: a regional mall in suburban Boston and a boutique hotel in Houston. <\/p>\n","protected":false},"author":1201,"featured_media":1004038249,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21751,21783,21742,10,21749],"tags":[],"class_list":["post-1004035573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-hotel","category-investment","category-latest","category-northeast","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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