HFF ARRANGES $74 MILLION LOAN FOR TROLLEY SQUARE
SALT LAKE CITY — Holliday Fenoglio Fowler (HFF) has arranged a $74 million loan for Trolley Square, a four-building lifestyle center in Salt Lake City. Working on behalf of ScanlanKemperBard Cos., Lloyd Minten of HFF secured the loan with Bank of America as administrative agent in syndication with Wachovia. The financing recapitalizes an existing adjustable-rate loan that was arranged by HFF in 2006 to fund the acquisition and redevelopment of the site. Originally built in 1908 as a trolley barn complex, Trolley Square is listed on the National Register of Historic Places and is designated a Utah Historic Site. Currently, the center is 61 percent occupied by 32 tenants.