HFF arranges $37.5M financing for Raleigh-area power center

 HFF announces that it has arranged $37.5 million in acquisition and renovation financing for Beaver Creek Crossing, a 321,000-square-foot retail power center in the Raleigh-area community of Apex, North Carolina.

HFF worked on behalf of the borrower, a partnership between Collett Capital and Long Warf Capital, to place the five-year, floating-rate loan with a life insurance company. 

Completed in 2005, Beaver Creek Crossing is 96% leased to a strong line-up of national and regional tenants, including T.J.Maxx/HomeGoods, Regal Beaver Creek, Dick’s Sporting Goods, Old Navy, Five Below and Ulta Beauty.  The center is situated on 52 acres at 1479 Beaver Creek Commons Drive proximate to Highway 64 and Highway 540 (Triangle Expressway) in Apex, a rapidly growing Wake County community located southwest of Raleigh and known for its favorable, affluent demographics and high levels of home ownership.  The center serves as the premier retail hub for the surrounding residential communities and has a back entrance connecting the center to the dense residential population to the south.  More than 109,000 residents earning an average annual household income of $132,000 live within a five-mile radius of the center. 

The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and senior director Cory Fowler.

Holliday GP Corp. ("HFF") is a North Carolina licensed real estate broker.

About Collett Capital
Collett Capital is a privately owned acquisition platform that focuses on acquiring undervalued community shopping centers in the Southeast, Southwest and Midwest, and southeastern real estate assets with existing cash flow and the potential for long-term capital appreciation.  Since its inception in 2015, Collett Capital has invested in over $225 million worth of real estate.  Visit collettcapital.com for more information.

About Long Wharf Capital
Long Wharf Capital LLC is a Boston-based private equity real estate manager focused exclusively on value-added investments in the U.S.  Formed in 2011, the firm invests on behalf of institutional clients including pension funds, endowments, foundations, and family offices.  Long Wharf’s investment approach utilizes multiple value creation strategies to target opportunities across property sectors and U.S. markets.  For further information, visit: longwharf.com.

About HFF
HFF and its affiliates operate out of 26 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 advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.com