HFF closes sale of Front Range Village in Fort Collins, Colorado

Loading...
Loading...

DALLAS, TX, September 16, 2014 - HFF announced today that it has closed the sale of Front Range Village, an 811,371-square-foot mixed-use hybrid shopping center in Fort Collins, Colorado.
 
HFF marketed the property on behalf of the sellers, a joint venture between Bayer Properties and institutional investors advised by J.P. Morgan Asset Management.  Ramco-Gershenson Properties Trust purchased the asset for an undisclosed amount.
 
Completed in 2008, Front Range Village is located on 67.04 acres at the intersection of Harmony Road and Ziegler Road in Fort Collins, which is approximately 65 miles north of Denver, Colorado.  The portion of the center included in this sale totals 459,780 square feet and features78,274 square feet of  second-story, Class A office space that is fully occupied and 381,506 square feet of retail that is 97 percent leased to tenants including Toys 'R' Us, Babies 'R' Us, Sports Authority, Sprouts Market, Sephora, Cost Plus World Market,  DSW Shoes, Charming Charlie, Party City and Ulta Beauty.   The center is shadow-anchored by Super Target and Lowe's Home Improvement
 
The HFF investment sales team representing the sellers was led by senior managing directors Barry Brown and John Jugl, managing director Ryan Shore and senior real estate analyst Aaron Johnson.

Birmingham, Alabama-based Bayer Properties LLC specializes in developing, leasing, managing and marketing mixed-use real estate properties nationwide.  Bayer Properties currently owns and/or operates retail and office properties totaling approximately 10 million square feet, such as The Summit in Birmingham, Alabama; Mount Pleasant Town Centre in Mount Pleasant, South Carolina; and The Summit in Reno, Nevada.  New developments include The Pizitz Building urban revitalization project in Birmingham, Alabama and The Summit at Fritz Farm, a mixed-use project in Lexington, Kentucky.  For more information, visit bayerproperties.com.

J.P. Morgan Asset Management - Global Real Assets has more than $76 billion in assets under management and more than 400 professionals in the U.S., Europe and Asia, as of June 30, 2014.  With a 40-plus-year history of successful investing, J.P. Morgan Asset Management - Global Real Assets' broad capabilities provide many of the world's most sophisticated investors with a global platform of real estate, infrastructure, maritime/transport and energy strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions.

Ramco-Gershenson Properties Trust RPT is a fully integrated, self-administered, publicly-traded real estate investment trust (REIT) based in Farmington Hills, Michigan.  The company's business is the ownership and management of multi-anchor shopping centers in strategic metropolitan markets throughout the Eastern, Midwestern and Central United States.  At June 30, 2014, the company owned and managed a portfolio of 78 shopping centers and one office building with approximately 15.6 million square feet of gross leasable area owned by the company or its joint ventures. The properties are located in Michigan, Florida, Ohio, Georgia, Missouri, Colorado, Wisconsin, Illinois, Indiana, New Jersey, Virginia, Maryland and Tennessee.  At June 30, 2014, the company's core operating portfolio was 95.7 percent leased. Additional information regarding the company is available via the corporate website at www.rgpt.com.

HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. HF.  HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.  For more information please visit hfflp.com or follow HFF on Twitter @HFF.    

CONTACTS:
BARRY BROWN
HFF Senior Managing Director
(214) 265-0880
bbrown@hfflp.com

RYAN SHORE
HFF Managing Director
(214) 265-0880
rshore@hfflp.com

JOHN JUGL
HFF Senior Managing Director
(303) 515-8000
jjugl@hfflp.com

KRISTEN MURPHY
HFF Associate Director, Marketing
(617) 338-0990
krmurphy@hfflp.com





This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: HFF, Inc. via Globenewswire

HUG#1856428
Loading...
Loading...
Posted In: Press Releases
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...