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Lima, Ohio — Eastern Union has arranged $12.9 million in refinancing for the acquisition of Lima Center, a 174,078-square-foot shopping center located in Lima. Jack Beida, Michael Muller and Mike Orlik of Eastern Union secured a seven-year, fixed-rate loan through an undisclosed lender on behalf of the buyer, an entity doing business as Lima Tov LLC. The purchase price was $19.5 million.
Lima Center houses 10 retail tenants and is anchored by an 86,584-square-foot Kohl’s and a 30,000-square-foot T.J. Maxx. Other retailers at the property, which was fully leased at the time of sale, include Dollar Tree and Five Below.