DENVER, CO– HFF announced today that it has arranged a $42 million financing for Valley Mall and Valley Mall Plaza, a top-performing regional mall and adjacent retail power center totaling 679,845 square feet in Yakima, Washington.
Working on behalf of CenterCal Properties, HFF placed the seven-year, full-term interest-only loan with a national bank at a floating-rate of LIBOR plus 170 basis points. Proceeds were used to refinance maturing debt on the property.
Valley Mall and Valley Mall Plaza are located in the Yakima submarket of south central Washington State. Renovated in 2001, the properties are collectively 94 percent leased to tenants such as Macy’s, Sears, Kohl’s, T.J. Maxx, Ross Dress for Less, Bed Bath & Beyond, Michael’s, Ulta and Old Navy.
The HFF team representing the borrower was led by senior managing directors Eric Tupler and Paul Brindley, managing director Tom Wilson and real estate analysts Kristian Lichtenfels and Erica Christensen.
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.com or follow HFF on Twitter at www.twitter.com/hff.