HFF announced it has arranged acquisition financing for Camelback Center, a 32,963-square-foot, CVS-anchored retail center in Phoenix.
HFF worked on behalf of a private real estate fund advised by Crow Holdings Capital- Real Estate to secure the fixed-rate loan through Guggenheim Commercial Real Estate Finance, LLC. Loan proceeds were used to acquire the property.
Camelback Center is situated on 3.85 acres at the intersection of Camelback Road and 16th Street in Phoenix’s Camelback Corridor, an area that contains some of the city’s most upscale neighborhoods. North of the property is access to the Piestewa Freeway, the main north-south route through the middle of the city. Built in 2003, the center is 100 percent leased to CVS, Chipotle Mexican Grill, Jimmy Johns, H&R Block, Tropical Smoothie Café, European Wax Center and Massage Envy. The center is shadow-anchored by Total Wine & More.
The HFF team representing the borrower was led by senior managing director Paul Brindley and associate director Jeff Sause. Douglas Mueller of Mueller & Associates Realty Advisors in Phoenix served as co-broker on the transaction.
