HFF Secures $20 Million Refinancing for 8-property Retail Portfolio in Texas

7/25/17

Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured a $20 million refinancing for a portfolio of eight Walmart shadow-anchored retail strip centers totaling 172,152 square feet in various Texas cities.

HFF worked on behalf of the borrower, N3 Real Estate, to place the three-year, floating-rate, non-recourse loan with two one-year extension options with Southside Bank.

Each of the properties is situated in highly-visible locations along the primary thoroughfare in each respective town and averages traffic counts of more than 51,000 vehicles per day. The portfolio comprises Alamo Corners Shopping Center at 1449-1451 West Duranta Avenue in Alamo (southwest Texas); Dumas Corners Shopping Center at 2025 South Dumas Avenue in Dumas (Texas Panhandle); Hereford Corners Shopping Center at 701 25 Mile Avenue in Hereford (Texas Panhandle); Hudson Oaks Corners Shopping Center at 200 South Oakridge Drive in Hudson Oaks (Fort Worth); Ovilla Corners Shopping Center at 109 East Ovilla Road in Red Oak (Dallas); Sweetwater Corners at 301 Northeast Georgia Avenue in Sweetwater (Abilene); Victoria Corners II at 9104 North Navarro Street and Victoria Corners III at 8806 North Navarro Street in Victoria (south central Texas). Shadow anchored by Walmart stores, notable tenants of the 89.5-percent-leased portfolio includes Dollar Tree, Anytime Fitness, Sports Clips, GameStop, AT&T, Subway, UPS Store and CATO.

The HFF debt placement team representing the borrower was led by director De’On Collins.

About N3 Real Estate

N3 Real Estate is a fully integrated retail real estate investment and development firm based in Southlake, Texas. Founded in 2004, N3 has acquired and developed more than 200 single and multi-tenant retail projects for national and local retailers across the United States. Today, N3 owns and manages more than $300 million retail projects for its investors with another $250 million available for immediate investment. Visit https://n3realestate.com for more information.

About HFF

Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

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