Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and the acquisition financing for Oakwood Commons, a 276,448-square-foot, Publix-anchored community center in the Nashville suburb of Hermitage, Tennessee.
The HFF team marketed the property on behalf of the seller, Brixmor Property Group Inc. (NYSE: BRX). Big V Capital purchased the asset free and clear of existing debt. Additionally, working on behalf of the new owner, the HFF team placed the five-year, floating-rate loan with Citizens Bank.
Oakwood Commons is anchored by top national retailers, including Publix, Ross Dress for Less, Bed Bath & Beyond and PetSmart. Completed in 1988, the center is 89 percent leased. Oakwood Commons is located at 4670 Lebanon Pike about 15 miles northeast of downtown Nashville, which, with 1.9 million residents, is one of the fastest-growing MSAs in the country.
The HFF investment advisory team representing the seller included senior managing directors Jim Hamilton and Richard Reid and real estate analyst Shea Petrick.
The HFF debt placement team representing the new owner was led by managing director Gregg Shapiro and analyst Matthew Beam.
About Big V Capital
Big V Capital and its affiliate Big V Properties is a vertically-integrated real estate investment and property management company whose partners have over 80 years of combined experience in real estate investment management, commercial property management and leasing. Big V owns and operates 35 primarily Class B grocery anchored and discount oriented neighborhood and community shopping centers totaling 3.9 million square feet, primarily located in secondary markets in the Southeast U.S. For more information, visithttps://www.bigv.com.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $152.3 billion in assets as of December 31, 2017. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,300 ATMs and approximately 1,200 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services, including lending and deposits, capital markets, treasury services, foreign exchange and interest rate products, and asset finance. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
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.
