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Finance

Plaza Colonial
ArizonaFinanceNews

Gantry Secures $16.7 Million in Refinancing for Mixed-Use Property in Tucson, Arizona

by Abby Cox

Tucson, Ariz. — Gantry has secured a $16.7 million permanent loan to refinance Plaza Colonial, a mixed-use property located in Tucson. Situated at 2840-2890 East Skyline Drive and 6375 North Campbell Ave., Plaza Colonial comprises 83,869 square feet of retail and office space spread across four buildings. Patrick Barkley and Chad Metzger of Gantry represented the borrower, a private real estate investor. An institutional balance sheet lender provided the five-year, fixed-rate loan, which features full-term interest-only payments. Gantry will service the loan.

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Springfield Town Center
FinanceMixed-useNewsVirginia

PREIT Receives $150 Million in Financing for Springfield Town Center

by Abby Cox

Springfield, Va. — PREIT has received $150 million in financing to recapitalize Springfield Town Center, a mixed-use redevelopment of the former Springfield Mall in Northern Virginia, roughly 14 miles outside Washington, D.C. The regional shopping center features 1.4 million square feet of retail space, including a 32,000-square-foot LEGO Discovery Center that opened in 2023. Other tenants include Build-A-Bear, Burger King, Chuy’s, Dave & Buster’s, Dick’s Sporting Goods, Finish Line, Five Below, H&M, Hot Topic, JC Penney, LA Fitness, Macy’s, Maggiano’s, Nordstrom Rack, Regal Cinema, Sephora, Toys “R” Us and Target. Goldman …

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Williamsburg Marketcenter
FinanceNewsVirginia

MMCC Arranges $8.2 Million Financing for 176,000-Square-Foot Shopping Center in Williamsburg, Virginia

by Abby Cox

Williamsburg, Va. — Marcus & Millichap Capital Corp. (MMCC) has arranged the $8.2 million financing for Williamsburg Marketcenter, a 176,000-square-foot regional shopping center located at 6610 Mooretown Road in Williamsburg. The 10-year loan includes a 6.3 percent interest rate with a 25-year amortization period and a 75 percent loan-to-value. Garrett Fierstein of MMCC’s Orlando office secured the financing on behalf of a private client. Anchored by Ross Dress For Less and Dollar Tree, the center includes a mix of additional tenants including Supercuts, Ukrop, Navy Federal Credit Union and Petco, …

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Wallace Crossings
FinanceInvestment salesNewsNorth Carolina

MMCC Arranges $3 Million Financing for Wallace Crossings Shopping Center in North Carolina

by Abby Cox

Wallace, N.C. — Marcus & Millichap Capital Corp. (MMCC) has arranged $3 million in financing for the acquisition of Wallace Crossings, a 66,000-square-foot shopping center located in Wallace. The 10-year loan includes a 6.3 percent interest rate with a 30-year amortization period and a 73 percent loan-to-value. Built in 1991, the center is anchored by U-Haul and Ollie’s Bargain Outlet. Additional tenants include Hardee’s, KFC, GoGas and a CashPoints ATM, according to LoopNet. Garrett Fierstein of MMCC secured financing with a local credit union on behalf of a private client.

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Whole-Foods_Wells-Fargo_Miami-Beach
DevelopmentFinanceFloridaNews

Ocean Bank Provides $54 Million Construction Loan for Whole Foods-Anchored Retail Project in Miami Beach

by Abby Cox

Miami Beach, Fla. — Ocean Bank has provided a $54 million construction loan for a retail development in Miami Beach. The borrower, 1901 Alton Property LLC, an affiliate of developer Russell Galbut and his daughter Marisa Galbut, is developing a commercial building that will house a 40,883-square-foot Whole Foods Market, a 4,000-square-foot Wells Fargo bank branch and 271 parking spaces. Jorge Hernandez of Ocean Bank originated the financing on behalf of the borrower, which has been doing business with Ocean Bank for 35 years. Details of the loan and the …

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FinanceNewsVirginia

Cushman & Wakefield Secures $28.7 Million in Bridge Financing for Manassas Mall in Northern Virginia

by Abby Cox

Manassas, Va. — Cushman & Wakefield has secured $28.7 million in bridge financing for Manassas Mall, a 941,574-square-foot regional mall located in Manassas, roughly 31 miles southwest of Washington, D.C. Miami-based Lionheart Capital was the borrower. Robert Kaplan and Mark Rutherford of Cushman & Wakefield’s Miami office, along with Michael Zelin, Bindi Shah and Ryan McMahon of the firm’s Washington, D.C. office, represented Lionheart Capital in the transaction. Originally developed in 1972, Manassas Mall was expanded in 1988 and renovated in 2016. The mall features more than 80 retailers, including Macy’s, …

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FinanceGrocery-anchoredNewsTexas

JLL Secures Financing for 44,494-Square-Foot Retail Center in Killeen, Texas

by Abby Cox

Killeen, Texas — JLL Capital Markets has secured financing for the acquisition of West Killeen Market, a 44,494-square-foot retail center located in Killeen. Built in 2017, the property is 74 percent leased and shadow-anchored by an H-E-B grocery store. Other tenants include Cohen Veterans Network, Jimmy’s Egg, MB2 Dental, Twin Liquor, Verizon Wireless, Cricket Wireless, Great Clips, The Joint, Venetian Nail Spa, Lone Star Pediatric Dental & Braces and Papa John’s Pizza. Clint Coe, Chad Lisbeth and Charlie Mossy of JLL’s Debt Advisory team represented the borrower, Brownlee Waggoner Holdings …

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La Alameda Shopping Center
CaliforniaFinanceNews

PSRS Arranges $40 Million Refinancing of 245,000-Square-Foot Shopping Center in Los Angeles

by Abby Cox

Los Angeles — PSRS has arranged a $40 million loan for the refinance of La Alameda Shopping Center, a 245,000-square-foot shopping center located in the Los Angeles neighborhood of Walnut Park. The 18.3-acre center comprises six building clusters and features Spanish architecture, pedestrian-friendly courtyards, plaza spaces, outdoor seating and a fountain. Tenants at the property include Ross Dress For Less, CVS Pharmacy, Marshalls, Don Chente Bar & Grill, Wingstop, Dollar Tree, Chuck E. Cheese, Panda Express, GameStop, Cold Stone Creamery, Petco and Bath & Body Works. Kostas Kavayiotidis, Mike Davis and …

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FinanceNew YorkNews

Largo Capital Arranges $17.3 Million Bridge Financing for Upstate New York Shopping Center

by Abby Cox

Irondequoit, N.Y. — Largo Capital has arranged a $17.3 million bridge loan for Culver Ridge Plaza, a 291,000-square-foot shopping center located in Irondequoit, a suburb of Rochester. The center is home to tenants including Marshalls, Burlington and Five Below. Kevin Ross and Michelle Colosimo of Largo Capital arranged the loan through Bank of America. The borrower, an undisclosed global investment firm, will use the proceeds to refinance existing debt and fund capital improvements.

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Downtown Doral
DevelopmentFinanceFloridaLeasingMixed-useNews

Codina Partners Receives $38.8 Million Construction Financing for Third Phase of Downtown Doral in Metro Miami

by Abby Cox

Doral, Fla. — Codina Partners has received a $38.8 million construction loan for the third phase of Downtown Doral, a 250-acre mixed-use development located roughly twelve miles west of Miami in Doral. Ocean Bank provided the loan. The third phase of the project will add nearly 25,000 square feet of retail space along 87th Avenue, with 932 dedicated garage parking spaces for retail visitors. UHealth – University of Miami Health System has leased 11,243 square feet on the north end of the development for UHealth Way, which will offer comprehensive …

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