Branch Buys $110M Grocery-Anchored Retail Portfolio
- Oct 05, 2017
Branch Retail Partners and its affiliate Branch Properties acquired a multi-state portfolio comprising six grocery-anchored properties in Georgia, Florida and Tennessee. The portfolio encompasses properties anchored by Publix, Kroger and Whole Foods, totaling 876,153 square feet of space.
HFF secured the $110 million seven-year, fixed-rate loan with one of its life insurance company correspondent lenders. The debt placement team of Senior Director Chip Sykes and Analyst James Clingman represented the borrower.
“We arranged this financing with one of our strongest insurance company correspondent lenders on behalf of our valued client, Branch Properties,” said Sykes, in prepared remarks. “Branch had not previously worked with this particular lender and we hope this deal will mark the beginning of a long and productive relationship between them.”
Last month, HFF facilitated the sale of Huntington Square Plaza, a fully occupied grocery-anchored shopping center in Huntington, N.Y.
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