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AlabamaFinanceNews

Northmarq Arranges Acquisition Financing for 388,700-Square-Foot Shopping Center in Montgomery, Alabama

by Hayden Spiess

Montgomery, Ala. — Northmarq has arranged financing for the acquisition of Shoppes at EastChase, a 388,700-square-foot shopping center located in Montgomery. Chad Owens of Northmarq’s Houston debt/equity team secured the loan through an undisclosed national bank on behalf of the borrower, an entity doing business as 5Rivers CRE. The loan carries a 10-year term with 4 years of interest only and a 40-year amortization schedule. Dillard’s, Target, Kohl’s and H&M anchor the property. Other tenants include Aldi, Ross Dress for Less, PetSmart, Ashley’s, DSW, Versona, Lululemon, Starbucks Coffee, Victoria’s Secret …

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FinanceIllinoisNews

The Jaffe Cos. Receives $40 Million Refinancing for Edens Collection in Chicago

by Hayden Spiess

Chicago — The Jaffe Cos. has received a $40 million loan for the refinancing of Edens Collection, a retail center located in Chicago. Built in 2020, the property comprises 142,740 square feet and was 94 percent leased at the time of financing. Keith Largay and Christopher Knight of JLL Capital Markets secured the five-year, floating-rate loan through Pacific Life Insurance Co. on behalf of the borrower. Target anchors the center, which is home to other tenants including Ross Dress for Less, Starbucks Coffee, LA Fitness, Five Below, Chipotle Mexican Grill, …

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FinanceNew YorkNews

Ashkenazy Acquisition Corp. Receives $20.6 Million Refinancing for Manhattan Retail Property

by Hayden Spiess

New York City — Ashkenazy Acquisition Corp. has received a $20.6 million loan for the refinancing of a 25,673-square-foot retail property located along Third Avenue on Manhattan’s Upper East Side. The property was fully leased at the time of the loan closing. Ronnie Levine and Ben Jacobs of Meridian Capital Group arranged the 10-year, fixed-rate acquisition loan through Bank of Montreal on behalf of ownership.

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FinanceIndustry ContentNewsWashington DC

NRF: Holiday Retail Sales Rose 5.3 Percent to $936.3 Billion in 2022

by Hayden Spiess

 Washington, D.C. — The National Retail Federation (NRF) has reported that retail sales during 2022’s November-December holiday season rose 5.3 percent year-over-year, reaching $936.3 billion. Though the number fell short of NRF’s predictions, which anticipated an increase of 6 to 8 percent, it represents an improvement on the 4.9 percent average annual holiday sales growth over the previous 10 years. The calculation, based on data from the U.S. Census Bureau, excludes automobiles, gasoline and restaurant sales and defines that holiday season as Nov. 1 through Dec. 31, 2022. “We knew …

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FinanceNebraskaNews

Northmarq Arranges $5.3 Million Loan for Refinancing of Retail Strip Center in Omaha

by Hayden Spiess

Omaha, Neb. — Northmarq has arranged the $5.3 million refinancing of Clocktower Village in Omaha. The retail strip center spans 44,000 square feet and is located at 605 N. 98th St. John Reed of Northmarq arranged the fixed-rate loan, which features a 10-year term and a 25-year amortization schedule. A local credit union provided the loan.

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Company newsFinanceNew JerseyNews

Party City Files for Chapter 11 Bankruptcy

by Hayden Spiess

Woodcliff Lake, N.J. — Party City Holdco Inc. (NYSE: PRTY) has filed for Chapter 11 bankruptcy. The restructuring process is expected to substantially reduce the company’s debt and optimize its capital structure and liquidity. The company expects to complete the restructuring process in the second quarter of this year. Party City’s more than 800 stores will remain open during the bankruptcy process. The company says it will continue to advance its key initiatives underway, such as converting stores to next-generation prototypes, evolving Halloween City pop-up stores, building out its online …

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FinanceNew JerseyNews

Provident Bank Provides $7.5 Million Refinancing for Shopping Center in Atlantic City, New Jersey

by Hayden Spiess

Atlantic City, N.J. — Provident Bank has provided a $7.5 million loan for the refinancing of Renaissance Plaza, a 76,000-square-foot, grocery-anchored shopping center in Atlantic City. Tenants include Family Dollar, CVS/pharmacy and H&R Block. Daniel Fromm led a Newmark team that placed the debt with Provident Bank on behalf of the borrower, New York City-based investment firm Ashkenazy Acquisition Corp. The loan carries a seven-year term and a fixed interest rate.

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FinanceGrocery-anchoredNew YorkNews

Northmarq Arranges $80 Million Refinancing of Long Island Shopping Center

by Hayden Spiess

Westbury, N.Y. — Northmarq has arranged the $80 million refinancing of Roosevelt Raceway Center, a 428,483-square-foot shopping center located in the Long Island community of Westbury. The center, which sits on a 48-acre site less than a mile from Roosevelt Field Mall, houses tenants such as The Home Depot, Food Bazaar Supermarket, David’s Bridal and PGA Tour Superstore. Robert Delitsky and Charles Cotsalas of Northmarq arranged the fixed-rate loan through a regional bank on behalf of an undisclosed borrower.

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AlabamaFinanceGrocery-anchoredNews

Northmarq Arranges $22.5 Million Refinancing of Shopping Center in Huntsville, Alabama

by Hayden Spiess

Huntsville, Ala. — Northmarq has arranged the $22.5 million refinancing of Village on Whitesburg, a 118,356-square-foot shopping center located in Huntsville. Randy Wolfe of Northmarq’s Atlanta office secured the permanent, fixed-rate financing on behalf of the undisclosed borrower through a commercial bank. The loan features a seven-year term and 25-year amortization schedule. The Fresh Market anchors the property, which is home to tenants including AT&T, Bonefish Grill, Drake’s, Nadeau, Panera Bread and Learning Express.

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CaliforniaFinanceGrocery-anchoredNews

Gantry Secures $16.8 Million Refinancing for Retail Center in Metro Sacramento

by Hayden Spiess

El Dorado Hills, Calif. — Gantry has arranged the $16.8 million refinancing of Market Place at Town Center, a retail center located in El Dorado Hills, roughly 30 miles northeast of Sacramento. Comprising 134,600 square feet, the property is anchored by Nugget Markets. Robert Slatt and Andrew Ferguson of Gantry secured the 10-year, fixed-rate permanent loan on behalf of the borrower, a private investor. A regional bank provided the financing.

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