This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: HF

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 -

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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs