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GLEN ELLYN, IL-The 135,355-square-foot Baker Hill Shopping Center has been refinanced for $12.5 million. The refinancing was secured by Holliday Fenoglio Fowler LP, on behalf of Columbia Retail Baker Hill LLC, a joint venture managed by Regency Centers, which has owned the property since 2004. The property was developed in 1999 at 830 Roosevelt Rd.

“We are pleased to have arranged this financing for Regency Centers in a difficult market,” says Jim Cadranell, HFF managing director, who along with director Matthew Schoenfeldt arranged the refinancing. The deal was arranged by HFF’s Chicago and New Jersey offices jointly.

Located at the intersection of Roosevelt Road and Baker Hill Drive, the decade-old shopping center is now 93% occupied, with its largest tenant being Dominick’s Finer Foods. The five-year, fixed-rate loan was placed with Ladder Capital Finance. This deal marks the second financing placed by HFF for Regency in the past nine months.

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