Hypo Real Estate Capital Corp. closed on a $220 million syndication loan for Gateway Center, a to-be-developed 926,180-square-foot retail project at the Bronx Terminal Market in New York City.
The Macerich Partnership, L.P. acquired the entity owning Deptford Mall, a 1.04-million-square-foot super-regional mall in Deptford, N.J., for $241 million. Macerich placed a $172.5 million, five-year, fixed-rate loan on the property. In addition, the company sold three of its properties in the central United States, including the Crossroads Mall in Oklahoma City, the Northwest Arkansas Mall in Fayetteville, Ark. and the Citadel Mall in Colorado Springs, Colo., for a combined $375 million.
Cohen Financial secured a $12.25 million non-recourse loan on behalf of West Valley Properties for the acquisition of Glendale Center, a 103,612-square-foot grocery-anchored shopping center in Glendale, Ariz. Robert Kincheloe, a director in Cohen's San Francisco office, negotiated this transaction.
ZR Strategic Property Investments, LLC and US Advisors, LLC acquired the Grande Promenade, a 202,555-square-foot specialty retail center in Charlotte, N.C. from Ghazi, NC, LLC and St. James Place for $55.5 million. Lori Schneider, of Marcus & Millichap, represented both parties in the transaction.
Prudential Mortgage Capital Company originated a $130 million loan for the South Bay Galleria, an 872,847-square-foot regional mall in Redondo Beach, Calif. The loan features a 10-year term and a 30-year amortization schedule. Richard Flohr and Sara Gaible, of Prudential's Chicago office, negotiated this transaction. The Morris Companies purchased the Bayview Shopping Center, a 102,000-square-foot grocery-anchored retail property in Bayonne, N.J. from a partnership of G. Heller Enterprises and James Dugan for an undisclosed amount. Andrew Merin, David Bernhaut, Gary Gabriel and Jose Cruz, of Cushman & Wakefield's Metropolitan Area Capital Markets Group, negotiated this transaction.
Vornado Realty Trust acquired Bruckner Plaza, a 386,000-square-foot shopping center, and an adjacent 114,000-square-foot land parcel, for $165 million.
BridgePointe Advisors negotiated the sale of Big Springs Village, a 125,083-square-foot community center in Guntersville, Ala. to a Georgia investment company for an undisclosed amount. BridgePointe represented the seller, a private market developer, in the transaction.
Walker & Dunlop negotiated a $16.7 million loan for a 14-property Tucker Oil gas station and convenience store portfolio located throughout the Columbia, S.C. area. The loan features a 10-year term and a 20-year amortization schedule.
Gulf Coast Commercial Group sold the Conroe Marketplace Shopping Center, a 300,000-square-foot retail property in Conroe, Texas to Kimco Realty Corp. and Crow Holdings. George Cushing and Wendy Vandeventer, of the Grubb & Ellis Company, represented the seller in this transaction.
Investcorp acquired the remaining 20 percent stake in a portfolio of 29 retail shopping centers located in Texas that it originally purchased in partnership with Equity One in April 2006. The transaction makes Investcorp the sole owner of the 2.8-million-square-foot portfolio.