Real Estate Weekly
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Debt & Equity

HFF arranges $14M loan for NJ shopping center

Holliday Fenoglio Fowler, L.P. (HFF) arranged a $14 million refinancing for The Streets of Chester Shopping Center, a 104,682-square-foot lifestyle retail center in Chester Township, New Jersey.

Photo by Tracy O/Flickr
Photo by Tracy O/Flickr

HFF worked on behalf of the borrower, CPP Streets of Chester, to place the 10-year, fixed-rate loan with Natixis Real Estate Capital, Inc. Loan proceeds will be used to retire existing debt previously arranged by HFF.

Completed in 2006, the center is home to many national and regional stores including J.Crew, White House/Black Market, Chicos, Talbots, Ann Taylor, J.Jill, Jos. A. Bank, Charming Charlie, and Plow and Hearth.

Located at 270 Route 206 in Chester, The Streets of Chester Shopping Center is situated on a main thoroughfare through western Morris County, one of the top 15 most affluent counties in the U.S. and the second wealthiest county in New Jersey.

The HFF team representing the borrower was led by senior managing director Jon Mikula.

Mikula said, “Natixis was extremely flexible and helped craft a structure that will permit ownership to continue to execute their business plan.”

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