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HFF Arranges $36M in Retail Refi's

FLORHAM PARK, NJ-The financing was secured on behalf of two separate shopping centers, for a total of $36.3 million.

By Alyson Grala | Updated on September 18, 2009

FLORHAM PARK, NJ-The New Jersey office of Holliday Fenoglio Fowler, LP has arranged $23.8 million in acquisition financing for Neptune Plaza Shopping Center, a grocery-anchored shopping center located at 2200 State Rt. 66 in Neptune.

Working exclusively on behalf of the Azarian Group, HFF senior managing director Thomas Didio and associate director Michael Klein placed the five-year, fixed-rate loan with a local commercial bank. According to the pair, loan proceeds were used to acquire the property.

With the acquisition, Azarian expands its portfolio of New Jersey- and New York-based shopping centers, including Pine Brook Plaza, Raritan Center, Montvale Shopping Center and the Hyde Park Mall.

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