ORLANDO, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $18.65 million in financing for Hannibal Square II, a seven-building, 95,886-square-foot, Class A mixed-use property in Winter Park, Florida.
HFF worked exclusively on behalf of the borrower, Owens Realty Capital, to place the 10-year, fixed-rate acquisition loan with an undisclosed lender. HFF previously arranged a $10.32 million financing for Owens Realty Capital’s first Hannibal Square-area acquisition in late 2014. With this second acquisition, Owens Realty Capital now owns nearly two city blocks of mixed-use buildings adjacent to Winter Park’s affluent Park Avenue shopping district. Palmer Vietor of Owens Realty Services represented Owens Realty Capital on both Hannibal Square transactions.
The assemblage of seven buildings is situated along West New England and West Welbourne Avenues between South Pennsylvania and South Virginia Avenues. Constructed between 1945 and 2005, the buildings encompass 30,079 square feet of retail and 14,572 square feet of office space, which is nearly 100 percent leased to a variety of tenants including restaurants, upscale salons, interior design studios and home furnishing retailers. The property also has a 72-unit residential component totaling 51,235 square feet that is 100 percent leased.
The HFF debt placement team representing the borrower was led by director Michael Weinberg.
”This was an aggregation strategy of premier Winter Park real estate for the Owens Realty Capital team,” said Weinberg. “Now that they control the majority of the Hannibal Square district, they will be able to drive rents especially as they turn and renovate the multi-housing units.”
About Owens Realty Capital
Owens Reality Capital is a boutique investment management firm based in Orlando, Florida that owns, develops and operates commercial properties in Orlando and Tampa alongside its operating partner, Owens Realty Services. Owens Realty Services provides commercial real estate services for more than 40 million square feet of commercial real estate with a value of more than $8 billion in real estate net worth and $30 million in gross annual revenue. Services include investment property management, public sector facility management, facility maintenance, commercial sales and leasing brokerage, arena management and maintenance as well as janitorial maintenance services. The company employs more than 1,000 real estate industry professionals throughout the United States.
About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 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.