NEW YORK, NY– HFF announced today that it has arranged a $72.5 million refinancing for Rye Ridge Shopping Center, Plaza, and South, a three-property 232,000-square-foot multi-tenant neighborhood center, with INGInvestment Management.
HFF worked on behalf of the borrower, Win Properties, to secure the fixed-rate financing for a 15-year term. Loan proceeds are refinancing existing loans on the properties. HFF will also service the loan.
Located in the Village of Rye Brook in Westchester County, New York, the property consists of two retail buildings and one retail/professional office building integrated into one complex. Some of the property’s 78 tenants include D’Agostino’s, CVS, Chase Bank, Ace Hardware, Starbucks, Chipotle, Chop’t, Quest Diagnostics and SoulCycle.
According to HFF, Rye Ridge is one of the premier shopping centers and commercial complexes in Westchester County.
The HFF team representing Win Properties was led by senior managing director Michael Tepedino with real estate analyst David Fowler.
“The transaction exemplified superior execution on behalf of Win Properties and ING Investment Management and is reflective of the professionalism and expertise of both the borrower and the lender. Both parties worked well together to solve complex issues throughout the process and it was a pleasure for HFF to help secure this financing on one of the great retail assets in the U.S.,” Tepedino stated.
Win Properties, Inc. was incorporated in 1986. It is a 60-plus year old privately owned enterprise that invests, develops, leases, and manages its portfolio of properties in 35 states plus Canada. The properties are predominately retail and are either downtown Main Street, freestanding, or community strip shopping centers. Additionally Win owns residential rental apartment units in New York City.
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.