Northeast Capital Group buys Shopping Center in New Hampshire

July 6, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged financing for Hood Commons, a 208,805-square-foot, grocery-anchored shopping center...

July 6, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged financing for Hood Commons, a 208,805-square-foot, grocery-anchored shopping center in Derry, New Hampshire.

HFF marketed the property on behalf of the seller, NG Hood Commons LLC, and procured the buyer, an affiliate of New York-based Northeast Capital Group.  Additionally, HFF assisted the new owner in securing a 70 percent loan-to-value, 3.79 percent, 10-year, fixed-rate acquisition loan with additional good news fundings.

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Hood Commons occupies a 23-acre site at 55 Crystal Avenue in Derry, New Hampshire, a bedroom community just 32 miles north of Boston.  Fronting the heavily traveled Route 28, the property has daily traffic counts of 15,000 cars per day and has a five-mile demographic profile of nearly 60,000 people with an average household income of more than $90,000.  The property is two miles from Interstate 93, allowing the site to draw from a broad geographic region including communities in both northern Massachusetts and southern New Hampshire.  Renovated in 2015, Hood Commons is 86 percent leased to tenants including Shaw’s Supermarket, Big Lots, Tractor Supply Co., Planet Fitness and Sally Beauty.

The HFF investment sales team representing the seller was led by senior managing director Jim Koury.

HFF’s debt placement team was led by director Porter Terry.

[button href=”https://www.hfflp.com/media-center/press-releases/142723/hff-closes-sale-of-and-arranges-financing-for-greater-boston-area-grocery-anchore.aspx” style=”emboss” size=”medium” color=”#000000″ target=”_blank”]Source: HFF[/button]

 

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