KeyBank Secures $20.9 Million CMBS Loan for Retail Power Center in Metro New Orleans

Centre at Westbank, located less than seven miles south of New Orleans in Harvey, is fully leased to tenants including Best Buy, Barnes & Noble, Michaels and Petco. Centre at Westbank, located less than seven miles south of New Orleans in Harvey, is fully leased to tenants including Best Buy, Barnes & Noble, Michaels and Petco.

Harvey, La. — KeyBank Real Estate Capital has secured a $20.9 million CMBS loan for the acquisition of Centre at Westbank, a 174,445-square-foot retail power center in Harvey, less than seven miles south of New Orleans.

Built in 2001, the four-building property is fully leased to tenants such as Best Buy, Barnes & Noble, Michaels and Petco. Randy Martin of KeyBank arranged the 10-year loan with three years of interest-only payments and a 30-year amortization schedule.

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