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MODESTO, CALIF. — HFF has arranged the $170 million refinancing of a portfolio of 33 triple-net-leased grocery properties totaling 1.73 million square feet in Northern California.
The portfolio is fully occupied under a master lease with The Save Mart Companies, operating under the Save Mart, Lucky, Lucky California and FoodMaxx brands. The portfolio consists of freestanding and anchor stores located in the San Francisco Bay Area, Sacramento and the Central Valley.
Peter Smyslowski, Chris Gandy and Rob Bova of HFF worked on behalf of the borrower, Modesto-based RMP Properties LLC, to place the 10-year, fixed-rate loan with a UBS-led consortium of CMBS lenders.