MIAMI – HFF announced today that it has closed the sale and arranged acquisition financing for West Sunset Square, an 82,789-square-foot retail center in the Miami submarket of West Kendall.
HFF marketed the property on behalf of the owner. HFF’s debt placement team also arranged the acquisition financing on behalf of the buyer, an affiliate of Rialto Capital Management.
Completed in 2009, West Sunset Square is 72 percent leased to tenants including Walgreens, Valsan and Planet Fitness. The property is situated on 8.82 acres at 15705-15789 SW 72nd Street about 16 miles southwest of downtown Miami.
The HFF investment sales team representing the seller was led by director Luis Castillo and senior managing director Danny Finkle. HFF director Chris Drew and senior real estate analyst Nat Scarmazzi represented the borrower in the financing of the transaction.
HFF’s investment sales team secured more than $1.7 billion in sales of retail assets nationally through third quarter of 2013. In Florida, HFF closed more than $476 million in retail transactions across all capital markets platforms over the same period.
Rialto Capital Management (“Rialto”), a wholly-owned subsidiary of Lennar Corporation (NYSE: LEN), is a vertically integrated real estate investment management company focused on distressed and value-add investments and asset management, workout and turn-around strategies. Rialto was formed in 2007, and, since its inception, has participated in the investment of billions of dollars in distressed real estate assets and commercial mortgage-backed securities (“CMBS”). Rialto is headquartered in Miami, FL with offices across the United States. For more information, please visit www.rialtocapital.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 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.