RCG Ventures Nabs 471 KSF Idaho Retail Center
- Dec 08, 2017
RCG Ventures LLC has received financing to acquire Nampa Gateway Center, a 471,340-square-foot regional retail center in Nampa, Idaho. HFF secured the financing for the borrower, placing a three-year, fixed-rate loan with two one-year extensions with A10 Capital.
“This transaction is an ideal fit with A10’s lending platform and capabilities,” Michael Singh, A10 Capital’s principal and executive vice president, said in a prepared release. “Since the retail center is located in an ideal market in a rapidly-expanding Boise suburb, we recognized its development potential. I enjoyed working with Greg (Greg Brown, senior director at HFF) and his team to structure a facility that met RCG’s expectations and ensured an excellent closing experience for all parties.”
Located at 1206 N. Galleria Drive, Nampa Gateway Center is situated on 78.8 acres along the Interstate 84 Freeway at Garrity Boulevard, with a traffic count of roughly 112,600 vehicles per day. “The acquisition of Nampa Gateway Center provides RCG with an excellent opportunity to acquire a large site and add value to an existing center that sits in the heart of a developing area,” Brown said.
The HFF debt placement team included Greg Brown, senior director, Chris Drew, senior managing director and Peter Thompson, associate.
A Bustling City
The property is close by the Idaho Center, a facility that hosts conventions, concerts and sporting events; St. Alphonsus Hospital; and the 9,500-student Western Idaho Expansion Campus. Originally completed in 2007, the property boasts anchor tenants JCPenney, Edwards Theater, CircusTrix, Crunch Fitness and Shoe Carnival.
Last year, RCG Ventures brought on industry veteran Mark Worley as its new president and CEO. The company ranks 8th among Atlanta Business Chronicle’s Top Retail Owners in Atlanta with more than 1.75 million square feet owned.
Photo via Google Street View