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HFF closes sale of 11-property necessity-anchored retail portfolio

Published 22 January 2016

Holliday Fenoglio Fowler, L.P. (HFF) has closed the sale of The Cavalier Portfolio, an 11-property necessity-anchored retail portfolio totaling more than one million square feet in the central and eastern portions of the US.

HFF marketed the portfolio on behalf of the seller, a partnership between DDR Corp. and TIAA-CREF. Armada Hoffler Properties, Inc. purchased the portfolio.

The portfolio is comprised of dominant retail assets throughout the Carolinas, Virginia, Tennessee, Indiana and Texas, with the largest concentration of assets located in North Carolina. The portfolio boasts national retailers such as Harris Teeter, Kroger, Bed Bath & Beyond, Costco, Super Target, DSW, Ross Dress for Less, Total Wine & More, Five Below, GolfSmith, Petco, PetSmart, Office Depot and Staples.

The HFF team representing the seller was led by senior managing directors Jim Hamilton and Richard Reid, managing director John Owendoff, and directors Amy Sands, Clinton Mitchell and Jordan Lex.

"The Cavalier Portfolio represented a unique opportunity to acquire 11 first-in-class, necessity-anchored retail assets that allowed the buyer to strategically acquire significant retail scale, specifically in the Southeast, and establish an immediate retail presence in dominant markets across the central and eastern United States," Hamilton said.

Source: Company Press Release