Axilla Capital Secures $3.7 Million Refinance Loan for Shoppes at Park Place

Southfield, Mich. — Axilla Capital has arranged a $3.7 million loan for the refinancing of Shoppes at Park Place in Southfield. 

The 10-year loan features three years of interest-only payments and a 30-year amortization schedule. The 18,373-square-foot retail property is 93 percent occupied by several national tenants, including Fuddruckers, Tim Hortons, Subway and Qdoba. Joel Mazur of Axilla Capital originated the transaction and secured the financing for the undisclosed borrower.