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HFF obtains $105M loan to refinance Texas regional retail center

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HFF obtains $105M loan to refinance Texas regional retail center

HFF Inc. secured $105 million from the Bank of America Corp. on behalf of The Retail Connection-led partnership to refinance a regional retail center in Tyler, Texas.

The loan carries a term of 36 months and a floating interest rate, with proceeds intended for the refinancing of The Village at Cumberland Park.

The 649,636-square-foot retail center consists of 14 buildings leased by tenants that include Bed Bath & Beyond, Cost Plus World Market, Nike, Bath & Body Works, Burlington, Studio Movie Grill, T.J.Maxx, H&M and Old Navy. Construction commenced in 2014, and expected to complete in 2018, which will take the property's floor area to upwards of 700,000 square feet.