This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

HFF Closes Sale And Arranges $81.36 Million Financing For The Waterfront In Pittsburgh

HFF announced today that it has closed the sale of The Waterfront, a 764,691-square-foot regional retail center in Pittsburgh, Pennsylvania, and also arranged acquisition financing for the buyer.

HFF marketed the property exclusively on behalf of the seller. M&J -- BIG Waterfront Town Center, LLC, a joint venture between BIG Shopping Centers USA and M & J Wilkow, Ltd., purchased The Waterfront for an undisclosed amount.

HFF also arranged an $81.36 million, 10-year, 4.35 percent, fixed-rate acquisition loan through Ladder Capital on behalf of the buyer. The securitized loan will be sub-serviced by HFF.

The Waterfront is situated on 265 acres at 100-146 W. Bridge Street close to the affluent residential communities of Squirrel Hill and Shadyside as well as the University of Pittsburgh Medical Center, Carnegie Mellon University and the University of Pittsburgh. Completed in 2001, the 89 percent leased property is a redevelopment of a steel mill and is comprised of Market on the Waterfront, Waterfront Market Amity, Amity Square at the Waterfront, The Stacks at the Waterfront and Waterfront Towne Center. Anchors include Dick’s, Best Buy, Michaels, Petco, TJ Maxx, Bed Bath & Beyond, Marshalls, Barnes & Noble, Loews Cinema and Dave & Busters.

The HFF team was led by executive managing directors John Pelusi and Gerard Sansosti, senior managing director Coleman Benedict and managing director Nick Matt.

M & J Wilkow, Ltd. is in the business of acquiring, managing and selling shopping centers and office properties for its own account, as well as on behalf of institutional investors. Established in 1939 and headquartered in Chicago, Illinois, M & J Wilkow is a full service commercial real estate company, whose mission is to create value in real estate through an array of integrated services. Whether serving as a fiduciary for investors or a consultant for clients, M & J Wilkow’s record of success has fostered strong relationships with many institutional partners in joint venture and other financial arrangements. The company’s portfolio consists of 32 office and retail properties, located throughout the United States. The aggregate size of the portfolio is approximately 5,800,000 square feet, with an estimated market value of $950 million. The Company employs approximately 75 employees working out of 10 regional offices. For more information, visit -  http://www.wilkow.com/.

BIG Shopping Centers USA, a subsidiary of Israeli parent company, BIG Shopping Centers (TASE: BIG), is a shopping center investment company based in Beverly Hills, California. Through joint ventures, BIG Shopping Centers USA provides an equity partner for leading U.S. shopping center operators to acquire individual as well as portfolios of quality shopping centers for long term cash flow.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs