CEDAR RAPIDS, IA - HFF arranged a $9.2 million financing for Collins Road Square, a 168,104 square foot retail center.
HFF worked on behalf of Alex Brown Realty Inc. to secure a three-year, interest-only financing through Resource Capital Corp., a commercial mortgage REIT.
The HFF team representing the borrower was led by managing director Matthew Schoenfeldt and senior real estate analyst Ed Halaburt.
Proceeds from the loan were used to refinance existing debt on the property and to provide for future re-tenanting expenditures as ownership secures new leases.
Collins Road Square is located at 1400 Twixt Town Rd., across from Lindale Mall in suburban Cedar Rapids. Renovated in 2011, the property is 79% leased and is anchored by Michael's. Other tenants include Collins Road Theaters, Pier One Imports and David's Bridal.
Alex Brown Realty is a privately owned real estate investment manager organized in 1972 and headquartered in Baltimore.
HFF (Holliday Fenoglio Fowler LP) and HFFS (HFF Securities LP) are owned by HFF Inc. HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the commercial real estate industry.
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