NEW YORK CITY– HFF announced today that it has secured an $85 million financing for Roosevelt Raceway Centera 428,395-square-foot retail power center in Westbury, New York.
Working on behalf of the borrower, a joint venture of Mattone Group LLC and Gartenstein Properties, HFF placed the fixed-rate loan with New York Community Bank.
Roosevelt Raceway Center is located along Corporate Drive in the Long Island suburb of Westbury. Completed in 1995, the property is leased to tenants including Fairway Market, Home Depot, Michael’s, Babies “R” Us, Sprint, AMC Theatres, Applebee’s and Chili’s. Ownership recently oversaw the opening of Joe’s Crab Shack at the Center, its third restaurant location on Long Island. In addition, PGA Tour Superstore will be opening its first store on Long Island this winter. PGA Tour Superstore will occupy 44,000 square feet.
The HFF team representing the borrower was led by managing director Robert Delitsky.
The Mattone Group is a Queens-based development company that currently owns and manages more than 2 million square feet of commercial property in the New York Metro area, Georgia and Florida.
Gartenstein Properties is a Brooklyn based development and management company with over 70 years of real estate experience.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.