Friday, June 27, 2025
Read the Digital Magazines
Subscribe

Finance

Marketplace-at-Huntingdon-Valley
FinanceGrocery-anchoredNewsPennsylvania

Prestige Group Arranges $42 Million Refinancing of Shopping Center Near Philadelphia

by Hayden Spiess

Huntingdon Valley, Pa. —Prestige Group has arranged $42 million for the refinancing of The Marketplace at Huntingdon Valley, a 259,000-square-foot shopping center located on the northwestern outskirts of Philadelphia. Weis Markets and LA Fitness anchor the center, which was built on 49 acres in 1993. Other tenants include Starbucks Coffee, Fine Wine & Good Spirits, Bertucci’s, Rite Aid, Dunkin’ GNC and Hair Cuttery. Bob Cohen of Prestige Group arranged the financing, which consisted of a $25 million senior loan and a $17 million junior loan, through two undisclosed regional banks …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaCompany newsFinanceNews

Westfield Pulls Out of San Francisco, Surrenders Mall to Lender

by Hayden Spiess

San Francisco — Westfield plans to pull out of San Francisco and surrender the San Francisco Centre mall to the property’s lender, reports CNN. The decision follows the closure of stores including Banana Republic and Nordstrom. A spokesperson for Westfield previously attributed the closure of the latter to “unsafe conditions for customers, retailers and employees.” According to SFGATE, Westfield and its partner, Brookfield Properties, have ceased loan payments on the mall. In a statement provided to the publication, Westfield noted that it has operated San Francisco Centre for more than …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceLearn from Industry LeadersLeasingRetail InsightRetailersVideos

Northmarq: What Factors Will Influence Deal Volume in the Second Half of 2023?

by Sarah Daniels

  Leasing activity, occupancy and capital markets demand for multi-tenant retail remain strong, but interest rate hikes have brought transactions to a halt. “On the supply side, we just aren’t seeing a lot of listings out there,” says Patrick Kelley, associate vice president with Northmarq. “There is not a lot of activity in terms of sales,” explains Ernest DesRochers, senior vice president and managing director with Northmarq. “Buyers are looking for shorter-term financing, being able to prepay with little or no penalty, and hoping to take advantage of lower rates in …

Continue Reading
1 FacebookTwitterLinkedinEmail
Village-Prasada
ArizonaDevelopmentFinanceGrocery-anchoredNews

Gantry Arranges $53.4 Million Refinancing for Retail Center in Phoenix Suburb

by Katie Sloan

Surprise, Ariz. — Gantry has arranged a $53.4 million permanent loan for the refinancing of the The Village at Prasada, a 700,000-square-foot multi-phase retail center project in the Phoenix suburb of Surprise. The 7.5-year, fixed-rate loan will retire the construction debt for the first phase of the development, which comprises 308,640 square feet. Phase One was fully leased at the time of financing to tenants including Sprouts Farmers Market, Ross Dress for Less, HomeGoods, Marshalls, Ulta Beauty, Total Wine & More, PetSmart, T.J. Maxx and Floor & Décor. Tim Storey, …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaDevelopmentFinanceMixed-useNews

Citivas Provides Construction Financing for 25,000-Square-Foot Mixed-Use Project in Santa Monica, California

by Katie Sloan

Santa Monica, Calif. — Citivas Capital Group has provided a senior construction loan for the development of a mixed-use project at Third Street Promenade in Santa Monica. Upon completion, the space, which will include retail and office space, will feature floor-to-ceiling windows and a 4,000-square-foot outdoor roof terrace. Blatteis & Schnur was the borrower. Jorge Adler of Citivas arranged the financing. 

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceLearn from Industry LeadersRetail InsightRetailersVideos

Freedom Financial Funds: Research Markets and Deals Extensively to Develop Creative Financing Options

by Sarah Daniels

If the conventional wisdom is that the worst loans are made in the best of times, then a return to fundamentals and positive risk/return dynamics seems likely in the near future, according to Michael Klein, founding principal and CEO of Freedom Financial Funds. Today’s market is not unprecedented, says Klein. “It is a moment that we’ve lived through in the past, where buyers and sellers are just not on the same page.” Currently, the rising cost of capital means a lack of transactions, but Klein notes that historical trends indicate activity will pick up, …

Continue Reading
1 FacebookTwitterLinkedinEmail
FinanceInvestment salesLearn from Industry LeadersRetail InsightRetailersVideos

WHLR: Investing Well in the Face of High Inflation and Interest Rates

by Sarah Daniels

  Thinking ahead, WHLR proactively managed its exposure to volatile capital markets and an inflationary environment. In 2021, the company refinanced all its loans that were set to mature within seven years, garnering the REIT low cost, fixed-rate debt set for the next 10 years. In addition, WHLR’s focus on the service, convenience and necessity retail tenant categories in secondary and tertiary markets has helped shield the company from the impacts of inflation risk, explains Andy Franklin, CEO of WHLR. The company’s 2022 merger with Cedar Realty Trust also helped …

Continue Reading
1 FacebookTwitterLinkedinEmail
Company newsFinanceNew YorkNews

A&G Taking Offers on 49 David’s Bridal Leases

by Hayden Spiess

Melville, N.Y. — A&G Real Estate Partners is entertaining offers on 49 David’s Bridal leases throughout the country in its capacity as real estate advisor to the brand, which filed for Chapter 11 bankruptcy in April of this year. The stores range in size from roughly 5,000 to 15,000 square feet. Transactions must be presented for bankruptcy court approval by June 30. A&G additionally plans to hold an auction in July of a select group of David’s Bridal leases. “Second-generation space is in strong demand nationally for a variety of reasons …

Continue Reading
0 FacebookTwitterLinkedinEmail
Retail-Portfolio_Fairfield-Ohio
FinanceNewsOhio

Northmarq Secures $6.1 Million Refinancing for Retail Portfolio in Metro Cincinnati

by Hayden Spiess

Fairfield, Ohio — Northmarq has secured a $6.1 million loan for the refinancing of a four-building retail portfolio in Fairfield, roughly 25 miles north of Cincinnati. The portfolio, which totals 62,720 square feet across two shopping centers, was 99 percent leased at the time of financing. Built in 1987, Diplomat Village consists of three buildings totaling 50,650 square feet. Kemper Ponds Plaza, built in 2005, totals 12,070 square feet. Noah Juran of Northmarq arranged the fixed-rate, three-year loan with a local bank on behalf of the undisclosed borrower.

Continue Reading
0 FacebookTwitterLinkedinEmail
Legacy-Place-Dedham-Mass
FinanceGrocery-anchoredMassachusettsNews

JLL Secures $190 Million Refinancing for Shopping Center in Boston Suburb

by Hayden Spiess

Dedham, Mass. — JLL Capital Markets has secured a $190 million loan for the refinancing of Legacy Place, a 675,000-square-foot shopping center located in the Boston suburb of Dedham. Whole Foods, Apple, L.L. Bean and Showcase Cinemas anchor the property. Other tenants at the center include Nike, Athleta, Industrious, Shake Shack, Lululemon, Sephora, Sweetgreen and Yard House. Brett Paulsrud, Henry Schaffer, Hugh Doherty, Chris Angelone and Zach Nitsche of JLL arranged the financing through a two-bank syndicate on behalf of the borrowers, WS Development and Nuveen Real Estate. 

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts