January 15, 2016— Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a recapitalization for The Pavilions at Talking Stick, a 1.1 million-square-foot retail power center in Scottsdale, Arizona.
HFF worked on behalf of the sponsor, De Rito Partners, to arrange the joint venture equity partnership with PCCP. Additionally, HFF worked on behalf of the new partnership to arrange a loan with Wells Fargo Bank. In addition to acquiring the property, loan proceeds were used to fund capital expenditures and cover site preparation for ground lease opportunities in outparcel pad locations.
With more than 65 retail stores, restaurants and services, The Pavilions at Talking Stick is home to Target, Home Depot, Burlington Coat Factory, Conn’s Appliances, Hobby Lobby, Toys R Us, Petco, Ross Dress for Less, Michael’s and Mountainside Fitness. The 91.3-percent-occupied center consists of 47 buildings renovated in 2008 that are also leased to Famous Footwear, Frontgate, Lamps Plus, Roadhouse Cinemas, Denny’s and Ulta Beauty. Situated on 142 acres at 9001-9175 East Indian Bend Road, The Pavilions at Talking Stick is located off Loop 101 at a full-diamond interchange on Indiana Bend Road in the northern Scottsdale area of Talking Stick, an emerging cultural and entertainment destination that includes the Talking Stick Resort and Casino, which is adjacent to the center; 36-hole championship Talking Stick Golf Club; and Salt River Fields at Talking Stick, a MLB spring training facility for the Arizona Diamondbacks and Colorado Rockies.
The HFF team was led by executive managing director John Pelusi, senior managing director Kevin MacKenzie and managing director James Fowler.
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