TAYLORSVILLE, UT—HFF has arranged $45million in post-closing acquisition financing forThe Family Center at Taylorsville, a regionalretail power center. The center is approximately779,000-square-feet, and located in Taylorsville, a Salt Lake Citysuburb.
Working on behalf of TriGate Capital, HFF placedthe three-year, floating-rate loan with Wells FargoBank. Loan proceeds were used to facilitate theacquisition of the shopping center.
The Family Center at Taylorsville is situated on 68.36acres at 5400 South and Redwood less than nine miles southof downtown Salt Lake City. The center is leased toJo-Ann Fabrics & Craft, Ross Dress for Less, Pet Smart,24-Hour Fitness, Shopko, Guitar Center, Texas Roadhouse, JambaJuice and Chick-fil-A, among othertenants.
The HFF team representing the borrower was led by associatedirector Jim Curtin. TriGate Capital, LLC is aprivate equity firm focused on the recapitalization andrepositioning of real estate assets and companies. TriGateseeks to identify and invest in opportunities that require newcapital to solve capital structure issues or to further an asset orcompany business plan. The firm manages two fullydiscretionary real estate funds, TriGate Property Partners, LP(Fund I) and TriGate Property Partners II, LP, (Fund II) which arethe vehicles through which TriGate conducts its investmentstrategy. Fund I is fully invested and Fund II is presentlyin its investment period.