FLORHAM PARK, NJ– HFF announced today that it has secured $5.8 million in financing for Franklin Square Shopping Center, a 51,911-square-foot community shopping center on the border of Bloomfield and Belleville, New Jersey.
Working exclusively on behalf of The Hampshire Companies, HFF placed the five-year, fixed-rate loan with a TriState Capital Bank. Loan proceeds were used to refinance existing debt on the property.
Situated on 13.96 acres, the property is 100 percent leased to tenants such as Marshalls, Dots, The Children’s Place, Sprint and JP Morgan Chase. The center is shadow-anchored by a Stop & Shop grocery store and is located approximately 10 miles west of Midtown Manhattan.
The HFF team representing The Hampshire Companies was led by director Michael Klein and senior managing director Jon Mikula.
“The borrower needed to close this loan within a short time frame,” said Klein. “TriState Capital stepped up with a very competitive rate and structure and was able to close the loan within 30 days.”
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at http://www.hampshireco.com.
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.