The Boston office of the commercial real estate firm HFF said that it has closed the sale of and arranged financing for Bangor Parkade, a 233,000-square-foot shopping center anchored by a Kohl’s store in Bangor, Maine.
HFF said it marketed the property on behalf of the seller, Retail Properties of America Inc. GM Realty of Bangor LLC purchased the asset for $26.25 million free and clear of debt. HFF said it also assisted the buyer with arranging an $18.5 million, fixed-rate acquisition loan through Cantor Commercial Real Estate Lending L.P.
Completed in 2005, the property is 99.7 percent leased; besides Kohl’s, its tenants include Old Navy, AC Moore, Big Lots, ULTA, LL Bean, and PetSmart.
The HFF team representing the seller was led by senior managing director Jim Koury.