HFF Announces Sale Of 260 East 161st Street In New York

Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of 260 East 161 st Street, a Class A office and retail building totaling 276,622 square feet in the Bronx borough of New York City.

The HFF team represented the seller, Acadia Realty Trust, and procured the buyer, Jamestown. Additionally, HFF is currently working on behalf of the buyer to arrange financing for the asset.

Originally built in 1930, 260 East 161 st Street was renovated in 2016 and features 245,470 square feet of office space and 20,572 square feet of retail space. The 10-story property is leased to office tenants, including The City of New York, The Legal Aid Society, Montefiore Medical Center and retail tenants, Walgreens, Starbucks and Chipotle Mexican Grill. Its location in the most heavily trafficked office and retail corridor in the Bronx - the East 161 st corridor in Concourse Village - provides it with heightened demand due to proximity to the borough courthouses and city government buildings as well as Yankee Stadium, five blocks away. Additionally, the core asset is served by multiple transportation options, including the 4, B and D subway lines; Metro-North Railroad and the George Washington Bridge.

The HFF investment advisory team representing the seller included executive managing director Michael Tepedino, senior managing director Andrew Scandalios, managing directors Graham Stephens and David Giancola and senior director David Fowler.

HFF's debt placement team representing the borrower includes managing director Christopher Peck and senior director Peter Rotchford.

About Acadia Realty Trust

Acadia Realty Trust, is an equity real estate investment trust focused on delivering long-term, profitable growth via its dual - core and fund - operating platforms and its disciplined, location-driven investment strategy. Acadia Realty Trust is accomplishing this goal by building a best-in-class core real estate portfolio with meaningful concentrations of assets in the nation's most dynamic urban and street-retail corridors; making profitable high-yield opportunistic and high-quality value-add investments through its series of discretionary, institutional funds; and maintaining a strong balance sheet. For further information, please visit acadiarealty.com.

About Jamestown

Jamestown, L.P. was established in 1983 as an investment and management company focused on income-producing real estate in the United States. Over the last 33 years, Jamestown has expanded into a national, vertically integrated real estate operator with approximately $11.2 billion of assets under management as of September 30, 2017. Jamestown's capabilities include: acquisitions, capital markets, property management, asset management, retail leasing, design, sustainability and risk management. Jamestown has headquarters in Atlanta, GA, and New York, NY and additional offices in Boston, MA and San Francisco, CA. For more information, visit www.jamestownlp.com.

About HFF

HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171219005124/en/

Copyright Business Wire 2010

More from Press Releases

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

21st Century Fox Scoops Up Local News Stations

21st Century Fox Scoops Up Local News Stations

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Three-Part FREE Webinar Series

Three-Part FREE Webinar Series

March 24 Full-Day Course Offering: Professional Approach to Trading SPX

March 24 Full-Day Course Offering: Professional Approach to Trading SPX