The real estate services firm Holliday Fenoglio Fowler L.P. has arranged refinancing for a grocery-anchored retail center in Livingston, it announced Monday.
HFF placed a 12-year, fixed-rate loan on behalf of borrower Eastman Cos. for The Shoppes at Livingston Circle, a 95,809-square-foot complex anchored by an Aldi. The loan was placed with Voya Investment Management, HFF added.
Proceeds will be used to refinance existing debt. Livingston-based Eastman Cos. built the center in 1993, and has invested in a multimillion-dollar renovation over the past two years. The center is currently 80% leased, HFF said, with tenants including Olive Garden, Hand & Stone Massage and Facial Spa, and Goldfish Swim School, among others.
No dollar amount was disclosed.
The HFF debt placement team representing the borrower was led by Jon Mikula and Jim Cadranell, senior managing directors, and Andrew Zilenziger, analyst.