NEWPORT BEACH, CA – December 6, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces a senior financing for the acquisition of Nampa Gateway Center, a 471,340-square-foot regional retail center in the Boise-area community of Nampa, Idaho.
The HFF team worked on behalf of the borrower, RCG Ventures LLC (RCG), led by their SVP and director of acquisitions for the Western Region, Scott Tarbet, to place the three-year, fixed-rate loan with two one-year extensions with Boise, Idaho-based lender A10 Capital. Proceeds will be used to purchase the asset.
Situated on 78.86 acres at 1206 North Galleria Drive, Nampa Gateway Center is in Nampa, Idaho’s second most populated city, and along the Interstate 84 Freeway at Garrity Boulevard, which, at approximately 112,600 vehicles per day is one of the busiest intersections in the region. The property is near the Idaho Center, a facility that hosts conventions, concerts and sporting events; St. Alphonsus Hospital; and the 9,500-student Western Idaho Expansion Campus. Nampa Gateway Center was completed in 2007 and is home to anchor tenants JCPenney, Edwards Theater, CircusTrix, Crunch Fitness and Shoe Carnival.
The HFF debt placement team included senior director Greg Brown, senior managing director Chris Drew and associate Peter Thompson.
“The acquisition of Nampa Gateway Center provides RCG with an excellent opportunity to acquire a large site and add value to an existing center that sits in the heart of a developing area,” Brown said.
“This transaction is an ideal fit with A10’s lending platform and capabilities,” said Michael Singh, principal and executive vice president at A10 Capital, who structured and closed the loan. “Since the retail center is located in an ideal market in a rapidly-expanding Boise suburb, we recognized its development potential. I enjoyed working with Greg and his team to structure a facility that met RCG’s expectations and ensured an excellent closing experience for all parties.”
About RCG Ventures LLC
RCG Ventures LLC (RCG) is a privately funded real estate investment group that acquires and develops commercial real estate in the continental United States. The company’s primary focus is value-add anchored shopping centers with the potential for long-term ownership. Visit rcgventures.com for more information.
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
HFF Senior Director
HFF Director, Public Relations