HFF closes $11m mall refi

Real Estate Weekly,  Sept 21, 2005  

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The New York office of HFF has arranged an $11 million refinancing for Southgate Mall, a 225,733 s/f regional mall in Elizabeth City, North Carolina.

HFF managing director, Evan Pariser, worked exclusively on behalf of ABC Properties to secure the ten-year, fixed-rate, securitized loan through Citigroup Global Investors, a conduit lender. ABC Properties manages over 60 office, retail and multi family properties predominately on the East Coast.

"The great service provided by Citigroup was very much appreciated by the borrower and the HFF team. Citigroup delivered the financing exactly as proposed and the borrower was grateful for the speed with which they executed the transaction." said Pariser.

The 90% occupied Southgate Mall is anchored by JC Penney.

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