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December 8, 2010

HFF Director HFF Director HFF Associate Director, Marketing
(617) 338-0990 (617) 338-0990 (713) 852-3500

HFF arranges $9.2 million construction loan

for BJ’s Wholesale Club in western Massachusetts
BOSTON, MA – The Boston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has

arranged a $9.2 million construction loan for a to-be-built, 85,188-square-foot BJ’s Wholesale Club in

Pittsfield, Massachusetts.

HFF directors Janet Krolman and Greg LaBine and senior real estate analyst Lauren O’Neil

worked exclusively on behalf of the borrower, a joint venture between Saxon Partners and Cape Breton

Corporation to secure the loan through Sovereign Santander Bank.

The BJ’s Wholesale Club will include a free-standing building plus a fueling station. The 11.5-

acre site is located along Hubbard Avenue adjacent to Berkshire Crossing and close to Route 9 and

downtown Pittsfield.

“The new BJ’s in Pittsfield will satisfy the demand for a warehouse club for much of the

Berkshires, as the closest wholesale warehouse club is located 31 miles to the west in Albany, New York,”

said Krolman.

Formed in 1998, Saxon Partners is a retail and residential developer focused on the New England

region. Their projects include Colony Place, the region’s largest open-air shopping center and Oak Point

Retirement Community, the region’s largest active adult retirement community.

Cape Breton Corporation, headquartered in Braintree, Massachusetts, is a real estate development

company specializing in the site acquisition and local permitting of retail buildings and shopping centers.

HFF arranges $9.2 million construction/mini-perm loan
for a BJ’s Wholesale Club in western Massachusetts

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Holliday Fenoglio Fowler, LP (“HFF”) and HFF Securities LP (“HFFS”) are owned by HFF, Inc.

(NYSE: HF). HFF operates out of 17 offices nationwide and is a leading provider of commercial real

estate and capital markets services to the U.S. commercial real estate industry. HFF together with its

affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement,

investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan