HFF’s Ade & Bigos secures $17.7m financing for retail center
Reading, PA — HFF secured $17.7 million in financing for Spring Towne Shopping Center, a 277,860 s/f, Lowe’s- and Giant-anchored retail center in Reading.
HFF worked on behalf of the borrower, Brandolini Companies, to secure a long-term, fixed-rate loan with an institutional quality insurance company. The loan will be used to refinance an existing mortgage on the property.
Located at 2641-2679 Shillington Rd., Spring Towne Shopping Center has frontage along Rte. 724 with direct access to an exit ramp off the highly-trafficked Route 222.
The HFF team representing the seller was led by managing director Ryan Ade and senior real estate analyst Christopher Bigos.
“We were able to secure a loan for Brandolini that allows them to enjoy a low, fixed rate of interest for a long duration on a high-quality asset,” Ade said. “The availability of an early rate lock was critical to the deal given the historically low-rate environment we are in today.”