AUSTIN-A little more than 10 days after announcing it obtained financing to acquire the 309-unit Avanti Hills, local commercial real estate owner Christopher Commercial Inc. has secured more financing to the tune of $33 million. This seven-year, 3.07% fixed-rate loan is being used to refinance its 357,168-square-foot Shops at Arbor Trails.
HFF worked on behalf of the sponsor to secure the loan through Principal Real Estate Investors. Located at 4301 W. William Cannon Dr., the center is 100% leased and anchored by Whole Foods Market. Other tenants include Costco, Havertys Furniture and Staples. The retail center was completed in 2010.
The HFF team representing the borrower was led by senior managing director Doug Opalka and real estate analyst Patrick McCord. HFF also helped Christopher Commercial obtain the Avanti Hills acquisition financing in late December. Representatives involved with the transaction were not immediately available for comment. An update to this article will follow shortly.