FORT COLLINS,CO—HFF says it has closed the sale ofFront Range Village, an 811,371-square-footmixed-use hybrid shopping center here.

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HFF marketed the property on behalf of the sellers,a joint venture between Bayer Properties andinstitutional investors advised by J.P. Morgan AssetManagement. Ramco-Gershenson PropertiesTrust purchased the asset for an undisclosedamount.

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Completed in 2008, Front Range Village is locatedon 67.04 acres at the intersection ofHarmony Road and Ziegler Road,which is approximately 65 miles north of Denver. The portionof the center included in this sale totals 459,780 square feet andfeatures 78,274 square feet of second-story, class Aoffice space that is fully occupied and 381,506square feet of retail that is 97% leasedto tenants including Toys 'R' Us, Babies 'R' Us, SportsAuthority, Sprouts Market, Sephora, Cost Plus World Market, DSW Shoes, Charming Charlie, Party City and UltaBeauty. The center is shadow-anchored bySuper Target and Lowe's HomeImprovement.

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The HFF investment sales team representing the sellers was ledby senior managing directors Barry Brown andJohn Jugl, managing director RyanShore and senior real estate analyst AaronJohnson.

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Birmingham, AL-based Bayer Properties LLCspecializes in developing, leasing, managing and marketingmixed-use real estate properties nationwide. Bayer Propertiescurrently owns and/or operates retail and office propertiestotaling approximately 10 million square feet, such as The Summitin Birmingham, Alabama; Mount Pleasant Town Centre in MountPleasant, South Carolina; and The Summit in Reno, Nevada. Newdevelopments include The Pizitz Building urban revitalizationproject in Birmingham, Alabama and The Summit at Fritz Farm, amixed-use project in Lexington, Kentucky. J.P. Morgan AssetManagement – Global Real Assets has more than $76billion in assets under management and more than 400professionals in the U.S., Europe and Asia, as of June 30.

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Ramco-Gershenson Properties Trust is a fully integrated,self-administered, publicly-traded real estate investment trust(REIT) based in Farmington Hills, MI.

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The company's business is the ownership and management ofmulti-anchor shopping centers in strategic metropolitan marketsthroughout the Eastern, Midwestern and Central United States. At June 30, 2014, the company owned and managed a portfolio of 78shopping centers and one office building with approximately 15.6million square feet of gross leasable area owned by the company orits joint ventures. The properties are located in Michigan,Florida, Ohio, Georgia, Missouri, Colorado, Wisconsin, Illinois,Indiana, New Jersey, Virginia, Maryland and Tennessee. AtJune 30, 2014, the company's core operating portfolio was 95.7%leased.

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HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF SecuritiesL.P.) are owned by HFF, Inc. HFF operates out of 23 officesnationwide and is a leading provider of commercial real estate andcapital markets services to the U.S. commercial real estateindustry.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.