Huntsville, Ala. —Northmarq has secured a $14 million loan for Madison Plaza, a 153,739-square-foot shopping center located in Huntsville. Randy Wolfe of Northmarq arranged the 10-year financing through a regional credit union on behalf of RCP Cos. The loan features one year of interest-only payments and a 25-year amortization schedule. Built in 1984 and renovated in 2016, Madison Plaza is leased to tenants including Havertys, Stars and Strikes, State Farm, Dragon Alley and Viet Huong.
Aliso Viejo, Calif. — MetroGroup Realty Finance has secured a $10.6 million bridge loan for a retail center located in Aliso Viejo. Trader Joe’s anchors the 30,500-square-foot property. Other tenants include the restaurants Eureka! and Lupe’s. The interest-only loan carries a term of 36 months and replaces a maturing commercial mortgage-backed security loan.
Milford and Torrington, Conn. — BridgeCore has provided fixed-rate, bridge loans to refinance two properties occupied by Subway in Milford and Torrington. The borrowers, which were both third-party Subway franchisees, used the cash-out proceeds of the financings to settle agreements with Subway Corporate for covering lease payments during the pandemic under the Project Service program offered by the state of Connecticut.
Teaneck, N.J. — Commercial finance and advisory firm Axiom Capital Corp. has secured a $2.1 million loan for the refinancing of an 11,500-square-foot retail property in the Northern New Jersey community of Teaneck. The freestanding building sits on a three-quarter acre site and was fully leased to a single, undisclosed tenant at the time of sale. The direct lender and borrower were also not disclosed. The nonrecourse loan carries a four-year term and a fixed interest rate.
Poughkeepsie, N.Y. — Berkshire Bank has provided $36.1 million in financing for The Shoppes at South Hills, a 512,218-square-foot shopping center located north of New York City in Poughkeepsie. Tenants at the property include ShopRite, At Home, Ashley Furniture, Hobby Lobby and Christmas Tree Shops. The borrower, a partnership between Acadia Realty Trust and DLC Management, will use the proceeds to refinance and reposition the center. The nonrecourse loan carries a five-year term and a fixed interest rate. Mike Tepedino and Stephen Van Leer of JLL arranged the financing.
Moreno Valley, Calif. — Ledo Capital Group has received $13.4 million for the refinancing of District Moreno Valley, a shopping center in Moreno Valley. Completed in 2022, District Moreno Valley features 52,081 square feet of retail space anchored by Sprouts Farmers Market. Other tenants include KFC, The Joint Chiropractic, WSS and Starbucks Coffee. Matt Stewart, Chris Jaff and Daniel Skerrett of JLL Capital Markets Debt Advisory secured the financing through Manufacturers Banks on behalf of the borrower.
Norcross, Ga. — Marcus & Millichap Capital Corp. (MMCC) has secured $10.8 million in financing for the acquisition of Peachtree Parkway Shopping Plaza, a 94,174-square-foot shopping center located in Norcross, roughly 20 miles northeast of Atlanta. Tenants at the property include Dollar General and Goodwill. Garrett Fierstein of MMCC secured the loan, which carries a 10-year, fixed rate and a 25-year amortization schedule.
Chula Vista, Calif. — PSRS has secured a $16.3 million non-recourse loan for the refinancing of a 43,471-square-foot retail space at Eastlake Village Center in Chula Vista, roughly 10 miles southeast of downtown San Diego. James Mulvihill and Kevin Mulvihill of PSRS arranged the loan, which a life insurance company provided. PSRS will service the mortgage as part of its $6.6 billion loan serving portfolio.
Woodbridge, N.J. — Levin Properties has received a $43.2 million refinancing for St. Georges Crossing, a 343,423-square-foot shopping center located in the central New Jersey community of Woodbridge. ShopRite anchors the property, which was fully leased at the time of financing. Other tenants include P.C. Richard & Son, PetSmart and TJ Maxx. Jim Cadranell, Gregory Nalbandian and Salvatore Buzzerio of JLL Capital Markets arranged the 12-year, fixed-rate loan through PGIM Real Estate on behalf of Levin Properties.
Altoona, Pa. — Axiom Capital Corp. has arranged the $11 million refinancing of a 222,139-square-foot, single-tenant retail property located in Altoona. Walmart occupies the property, housing a grocery store, auto care center, pharmacy and a hair salon. The names of the borrower, a private investment group, and direct lender, a bank, were not disclosed.
