Citiview Centre receives $24.3 million financing arranged by Holliday Fenoglio Fowler.Business Editors DALLAS--(BUSINESS WIRE)--Aug. 6, 2002 The Dallas office of Holliday Fenoglio Fowler, the nation's leading commercial mortgage banking firm, has arranged a $24.3 million financing for Citiview Centre, a 351,900-square-foot shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into located in Fort Worth, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities. . Joseph N. Hevey, Senior Director of Holliday Fenoglio Fowler's Dallas office, arranged the ten-year, fixed-rate refinancing Refinancing An extension and/or increase in amount of existing debt. on behalf of Retail Plazas, Inc., through Prudential Prudential is the name of two different companies and buildings named after them: Companies:
ileal conduit the surgical anastomosis of the ureters to one end of a detached segment of ileum, the other end being used to form a stoma on the and life company lender. The refinancing was a conversion of an interim bridge loan that was originated by Holliday Fenoglio Fowler in September 1999. Built in 1985, Citiview Centre is located at 4600 Bryant Irving Road in Fort Worth, Texas. The property is presently 93% leased and is home to such tenants as Tom Thumb Tom Thumb, 1838–83, American entertainer, whose original name was Charles Sherwood Stratton, b. Bridgeport, Conn. His career as General Tom Thumb began in 1842, when the showman P. T. , Academy Sports, and Loew's Cinema. "Retail Plazas did a great job with the lease-up and retenanting, which allowed it to convert to a 10-year, sub 7% fixed-rate, resized permanent loan ahead of the anticipated three-year schedule," said Hevey. "The property was approximately 80% leased when it was acquired in 1999. Currently, only 6% or 22,000 square feet is available and of that total, 15,000 square feet is under a letter of intent or in serious negotiation." "Through hands-on management and leasing, this asset's cash flow and value have been greatly enhanced. The property should provide stable coverage for the lender and attractive cash flows for the owners for years to come," Hevey added. Retail Plazas, Inc. is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. that currently owns approximately 2.5 million square feet of retail properties, primarily in the Dallas/Ft. Worth market, and continues to seek retail acquisition opportunities in this market. With 19 offices nationwide, Holliday Fenoglio Fowler is one of the country's largest capital intermediaries. 2001 was a record-breaking year for the firm, with more than $12.2 billion in business volume. Since 1998, the firm's debt, equity/structured finance and investment sales transactions have totaled more than $51.5 billion. |
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