Sunrise, Fla. — Dwight Mortgage Trust, an affiliate REIT of Dwight Capital, has provided a $12.8 million bridge loan for Pine Island Plaza, a 104,000-square-foot, grocery-anchored shopping center in Sunrise. The borrower was not disclosed. The South Florida shopping center comprises 21 tenants, including an unnamed national grocer that will open its doors in June.
Dallas — Crow Holdings, through its investment management business Crow Holdings Capital (CHC), has announced a joint venture with an undisclosed global institutional investor focused on retail investment. The $2.6 billion partnership will expand Dallas-based CHC’s investment strategy of acquiring small-format, convenience-oriented open-air shopping centers and was formed through a recapitalization of a $1.8 billion, 173-property portfolio owned by two real estate funds managed by CHC. The platform’s portfolio includes properties located in more than 50 cities across more than 30 states. “We have an incredible opportunity to continue to aggregate …
Woodcliff Lake, N.J. — Cronheim Mortgage has arranged a $50 million permanent loan for Tice’s Corner, a 120,000-square-foot shopping center in the Northern New Jersey community of Woodcliff Lake. The two-building center was constructed on 13.4 acres in 2001 and was fully leased at the time of the loan closing. Tenants at the property include Apple, Anthropologie, Free People, GAP, J. Crew, Panera Bread, Pottery Barn, Madewell, Nike and Williams-Sonoma. Dev Morris, Andrew Stewart and Allison Villamagna of Cronheim arranged the loan on behalf of the borrower, an affiliate of Connecticut-based …
Margaret Caldwell, managing director and senior vice president at Northmarq in Atlanta, thinks this is a great time to be a retail owner. The only problem? Sellers do too. “The biggest challenge is the small supply of retail in this market,” she says. “Sellers are very hesitant to sell, even though the ones who are selling are experiencing great results and achieving their pricing.” Caldwell notes that in the Southeast there has been a slight change in pricing of around 50 basis points over the past year or so. However, …
McKinney, Texas — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5 million acquisition loan for an undisclosed retail property located in the northern Dallas suburb of McKinney. A medical clinic and dollar store anchor the property, which was built in 2020. Adam Pike of MMCC arranged the debt.
Lewisville, Texas — Axiom Capital Corp. has arranged a $6.4 million permanent, fixed-rate loan for the acquisition of a single-tenant retail property located in Lewisville, roughly 30 miles northwest of Dallas. A specialty grocer occupies the 48,427-square-foot building, which is situated on 3.2 acres.
Farmington, Mo. — Axiom Capital Corp. has arranged a $3 million fixed-rate permanent loan for the refinancing of a freestanding single-tenant retail building located in Farmington. Built in 2016, the property comprises a 51,373-square-foot building with 162 parking spaces on 3.9 acres.
Clifton Park, N.Y. — Axiom Capital Corp. has arranged a $38.5 million loan for the acquisition of a retail center located in Clifton Park. Comprising six buildings located on five parcels, the property was fully leased at the time of financing to 64 tenants. The borrower was not disclosed.
Brookfield, Wis. — Bellwether Enterprise Real Estate Capital (BWE) has arranged a $6.2 million loan for the acquisition of Shoppes of Brookfield Commons, a retail center located in the Milwaukee suburb of Brookfield. The two-building property totals 42,356 square feet. At the time of loan closing, the center was 54 percent leased. Ryan Morris of BWE arranged the loan on behalf of the borrower, CapRock Real Estate. Ameritas Investment Partners provided the three-year loan, which features a fixed interest rate along with $1 million of future funding for capital improvements …
Roswell, Ga. — iBorrow has provided a $15.6 million loan for the acquisition of a retail center located in Roswell, roughly 20 miles north of Atlanta. Totaling 56,921 square feet, the property is leased to 13 tenants. The borrower was not disclosed.
