PENSACOLA, FL—RCG Ventures is proving there'san appetite in the capital markets for North Floridaretail. The firm just closed on an $11.425 millionrefi on Village Oaks, a 165,851-square-foot neighborhoodshopping center in Pensacola, FL.

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HFF placed the 10-year, fixed-rate senior loanwith Prudential Mortgage Capital Company for RCG.Greg Krafcik, a director with Prudential, led thetransaction.

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"The CMBS market continues to be extremelycompetitive and sophisticated borrowers are negotiating marketleading terms and locking in highly attractive long-term assumablefinancing that will be an asset going forward,” HFF directorChris Drew tells GlobeSt.com. Drew worked with HFFreal estate analysts Whitaker Leonhardt andCecily Nazario on the loan placement.

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Village Oaks is located on a 14.7-acre site at 6241-6251 NorthDavis Highway one mile south of the Interstate 10 interchange inPensacola. The retail property was most recentlyrenovated in 2013, and is 95.4% leased to a number of national andregional tenants including Bealls, PetSmart, Planet Fitness, PartyCity, Cato, and Plato's Closet.

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HFF's debt placement team has secured more than $533 million inloans for retail assets nationally during the first quarter of2014. In Florida, HFF has closed more than $134 million in retailtransactions across all capital markets platforms during the sameperiod.

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