Finance

Gantry Arranges $9.6 Million Acquisition Financing for Retail Center in Metro Sacramento

by Hayden Spiess December 13, 2023

Auburn, Calif. — Gantry has secured a $9.6 million permanent loan for the acquisition of The Plaza, a retail center located in the Sacramento suburb of Auburn. Situated on 3.4 acres, the property comprises 74,000 square feet of retail space. Tenants at the center include Best Buy, Mel’s Original Diner, Little Caesars Plaza, Mattress Firm, Sola Salon Studios, Garden of Eat’n, Lyon Real Estate, Miracle Ear, Salon Centric and T-Mobile. Tony Kaufmann and Erinn Cooke of Gantry secured the financing on behalf of the borrower, a private real estate company. A …

December 13, 2023

Company news Finance News Pennsylvania

PREIT Files for ‘Prepackaged’ Chapter 11 Bankruptcy, Will Operate as Private Company

by Hayden Spiess December 12, 2023

Philadelphia — PREIT (OTCQB: PRET), a mall REIT giant based in Philadelphia, has filed for Chapter 11 bankruptcy protection. The “prepackaged” bankruptcy was agreed to ahead of time by PREIT’s creditors, which will shorten the duration of the company’s bankruptcy proceedings. PREIT expects it will be able to emerge from bankruptcy by early February 2024. PREIT owns and operates 18 malls in New Jersey, Pennsylvania, Massachusetts, Maryland, Virginia, Michigan, North Carolinaand South Carolina. The company has also expanded in recent years to the multifamily, hotel and healthcare sectors. According to PREIT’s third-quarter financial …

December 12, 2023

Finance News Virginia

Macerich Secures $710 Million Refinancing of Tysons Corner Center in Virginia

by Hayden Spiess December 6, 2023

Tysons, Va. —Macerich has secured a $710 million loan for the refinancing of Tysons Corner Center, a retail center located in Tysons. Nordstrom, Bloomingdale’s and Macy’s anchor the property, which totals 1.8 million square feet. The financing will replace an existing $666 million loan that was scheduled to mature on Jan. 1. A Macerich joint venture owns the center.

December 6, 2023

California Finance News

PSRS Arranges $3.7 Million Refinancing for Retail Center in Mammoth Lakes, California

by Hayden Spiess December 6, 2023

Mammoth Lakes, Calif. — PSRS has arranged a $3.7 million loan for the refinancing of Mammoth Gateway, a retail center in Mammoth Lakes. Rite Aid anchors the property, which totals 54,854 square feet. Built in 1973 on 3.5 acres, the center features 13 retail spaces. Grady Seldin and Thomas Rudinsky of PSRS secured the 10-year, fixed-rate financing on behalf of the undisclosed borrower.

December 6, 2023

Mayfair-Shopping-Center-Commack-New-York

Finance New York News

Voya Investment Management Provides $37.5 Million Financing for Long Island Shopping Center

by Hayden Spiess December 4, 2023

Commack, N.Y. —Voya Investment Management has provided $37.5 million in bridge financing for Mayfair Shopping Center, a 221,000-square-foot retail property located in the Long Island community of Commack. Tenants at the center, which is situated on 15 acres, include Lidl, Planet Fitness and PGA Superstore. Andrew Stewart and Allison Villamagna of Cronheim Mortgage arranged the three-year loan on behalf of the borrower, The Livingston Group. A portion of the proceeds will be used to fund capital improvements and additional leasing costs.

December 4, 2023

Finance Mixed-use News Utah

Bridge Investment, Lowe Property Group Receive $157.5 Million Refinancing for Mixed-Use Project in Salt Lake City

by Hayden Spiess November 30, 2023

Salt Lake City — Bridge Investment Group and Lowe Property Group have received $157.5 million in loan proceeds to refinance Post District, a mixed-use development located in downtown Salt Lake City. Part of a three-phase project, Post District features 26,000 square feet of retail space, in addition to residential units. Sean Reimer, Mo Beler, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland and William Herring of Walker & Dunlop co-originated the loan with Affinius Capital and Clarion Partners.

November 30, 2023

Soundview-Marketplace_Port-Washington-N.Y

Finance Leasing New York News

PEBB, Sagamore Hill Secure $18.8 Million Refinancing for Soundview Marketplace on Long Island

by Hayden Spiess November 30, 2023

Port Washington, N.Y. — A joint venture between PEBB Enterprises and Sagamore Hill Partners has secured $18.8 million for the refinancing of Soundview Marketplace, a 188,109-square-foot retail center located in Port Washington on Long Island. Deutsche Bank AG is providing the loan to the joint venture, which acquired the property in December 2020. The financing will include a $15.8 million initial advance, as well as $3 million allocated for future funding of capital improvements and leasing costs. Built in 1962 and 1977, the center comprises four buildings situated on 11 acres. …

November 30, 2023

Finance Nevada News

Calmwater Capital Provides $23.3 Million Acquisition Financing for Shopping Center in Las Vegas

by Hayden Spiess November 29, 2023

Las Vegas — Calmwater Capital has provided a $23.3 million loan for the acquisition of Decatur 215, a 126,678-square-foot shopping center located in Las Vegas. An entity doing business as Decatur Palm Plaza LLC was the borrower. Tenants at the property, which was fully leased at the time of financing, include Petco, Hobby Lobby, Ulta Beauty, Sprouts Farmer’s Market, Sleep umber and Blaze Pizza. Zachary Novatt, Larry Grantham and DaJuan Bennett of Calmwater Capital originated the financing.

November 29, 2023

California Development Finance Grocery-anchored News

Gantry Arranges $21.6 Million Construction Financing for Retail Project in Los Angeles

by Hayden Spiess November 29, 2023

Los Angeles — Gantry has arranged a $21.6 million loan for the development of a grocery-anchored retail project in Los Angeles. Upon completion, the project will comprise 33,700 square feet. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry arranged the five-year financing, which one of the firm’s correspondent lenders provided, on behalf of the undisclosed borrower.

November 29, 2023

Arizona Finance News

Gantry Secures $7.8 Million Refinancing for Retail Property in Arizona

by Hayden Spiess November 22, 2023

Marana, Ariz. — Gantry has arranged a $7.8 million permanent loan for the refinancing of a retail property located in Marana, roughly 20 miles outside Tucson. Comprising 26,387 square feet, the property is situated within the Shoppes at Continental Ranch and shadow anchors an independently owned Safeway building and four pad buildings. Tony Kaufmann and Alex Poulos of Gantry secured the 10-year financing on behalf of the borrower.

November 22, 2023

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