{"id":1004135179,"date":"2016-01-22T09:43:30","date_gmt":"2016-01-22T17:43:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004135179"},"modified":"2020-04-15T08:39:40","modified_gmt":"2020-04-15T16:39:40","slug":"gfi-completes-refi-of-22-property-texas-retail-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gfi-completes-refi-of-22-property-texas-retail-portfolio\/","title":{"rendered":"GFI Completes Refi of 22-Property Texas Retail Portfolio"},"content":{"rendered":"

By Anca Gagiuc, Associate Editor<\/em><\/p>\n

\"Texas<\/a>

Texas Retail Portfolio, GFI<\/em><\/p><\/div>\n

San Antonio<\/strong>\u2014Global Fund Investments<\/a> of Florida, in a joint venture with Israeli insurance companies Migdal Insurance<\/a> and Menora Mivtachim Insurance<\/a>, acquired the remaining 51 percent interest in the \u201cTexas Retail Portfolio,\u201d becoming its sole owner. Along with the purchase, GFI secured a refinancing loan for the entire portfolio in the amount of $257.5 million. The funding was provided by TIAA CREF<\/a> ($247.5 million) and Regions Bank<\/a> ($10 million).<\/p>\n

HFF<\/a> arranged the $247.5 million refinancing portion of the loan. The debt placement team was led by Mike Tepedino, senior managing director, Michael Gigliotti, managing director, and Cameron Cureton, director. Loan proceeds were used to refinance existing debt and recapitalize the properties, which are 95.5 percent leased to approximately 414 tenants.<\/p>\n

\u201cTIAA-CREF provided a comprehensive financing solution to facilitate the recapitalization of a complicated 20-property portfolio,\u201d Gigliotti said in prepared remarks. \u201cGFI brings an impressive depth of experience and high level of institutional quality to the table, which attracted the lender to the transaction.\u201d<\/p>\n

Overall, the Texas Retail Portfolio totals 2.4 million square feet across 22 assets located in San Antonio, Houston and Dallas. The properties are anchored by four H-E-B, four Kroger, one Wal-Mart, one Tom Thumb, and one Albertsons grocery store. More than half of the retail centers are in Houston (13), eight are in Dallas, and one is located in San Antonio. Other anchors include Kohl\u2019s, LA Fitness, Petco, 24 Hour Fitness, Glofsmith, TJ Maxx, Ross and Harbor Freight Tools. GFI has been managing and leasing the portfolio since 2007.<\/p>\n

Image courtesy of GFI<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Global Fund Investments now owns 100 percent of the Texas Retail Portfolio.<\/p>\n","protected":false},"author":237,"featured_media":1004135186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21743,21825,1589,21783,21742,21749,1607],"tags":[],"class_list":["post-1004135179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-deals","category-finance","category-houston","category-investment","category-latest","category-retail","category-san-antonio"],"acf":[],"yoast_head":"\nGFI Completes Refi of 22-Property Texas Retail Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/gfi-completes-refi-of-22-property-texas-retail-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GFI Completes Refi of 22-Property Texas Retail Portfolio\" \/>\n<meta property=\"og:description\" content=\"Global Fund Investments now owns 100 percent of the Texas Retail Portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/gfi-completes-refi-of-22-property-texas-retail-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-01-22T17:43:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-15T16:39:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/Texas-Retail-Portfolio-GFI.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1570\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gfi-completes-refi-of-22-property-texas-retail-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gfi-completes-refi-of-22-property-texas-retail-portfolio\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"GFI Completes Refi of 22-Property Texas Retail Portfolio\",\"datePublished\":\"2016-01-22T17:43:30+00:00\",\"dateModified\":\"2020-04-15T16:39:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gfi-completes-refi-of-22-property-texas-retail-portfolio\\\/\"},\"wordCount\":269,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gfi-completes-refi-of-22-property-texas-retail-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/01\\\/Texas-Retail-Portfolio-GFI.jpg\",\"articleSection\":[\"Dallas\",\"Deals\",\"Finance\",\"Houston\",\"Investment\",\"News\",\"Retail\",\"San Antonio\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gfi-completes-refi-of-22-property-texas-retail-portfolio\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gfi-completes-refi-of-22-property-texas-retail-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/gfi-completes-refi-of-22-property-texas-retail-portfolio\\\/\",\"name\":\"GFI Completes Refi of 22-Property Texas Retail Portfolio - 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