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8850-Sunset
CaliforniaDevelopmentFinanceMixed-useNews

Silver Creek Receives Funding for Mixed-Use Redevelopment of 8850 Sunset Boulevard in West Hollywood

by Katie Sloan

West Hollywood, Calif. — Silver Creek Development has received funding for the redevelopment of 8850 Sunset Boulevard, which is located on the Sunset Strip in West Hollywood. Cottonwood Group provided a $62 million loan for the project. Currently a retail strip center and home to the legendary Viper Room music venue, the property is going through re-entitlement and will be transformed into a mixed-use project. Plans call for a redesigned music venue and recording studio, multiple eateries, retail spaces, a five-star hotel, 26 condominiums and eight income-restricted housing units. Completion is …

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ConnecticutFinanceNews

Cronheim Mortgage Secures $23.5 Million Permanent Loan for Connecticut Shopping Center

by Katie Sloan

North Haven, Conn. — Cronheim Mortgage has secured a $23.5 million permanent loan for North Haven Pavilion, a 148,277-square-foot shopping center located north of New Haven. Tenants at the property include Michaels, Wendy’s and Hartford Healthcare. Dev Morris, David Poncia, Allison Villamagna and Andrew Stewart of Cronheim Mortgage arranged the financing on behalf of the borrower, a subsidiary of National Realty & Development Corp., which originally developed the center in 2004. The loan carried a 10-year term and a 30-year amortization schedule.

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Barnes-Noble
FinanceNewsOregon

BridgeCore Provides $2.6 Million Acquisition Financing for Barnes & Noble Property in Medford, Oregon

by Katie Sloan

Medford, Ore. — BridgeCore Capital has provided $2.6 million in acquisition financing for a Barnes & Noble property in Medford. The fixed-rate financing features a 70 percent loan-to-purchase value and a 12-month term. The undisclosed borrower in the transaction was acting in a 1031 exchange. Further details on the property were undisclosed.

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Conference CoverageContent PartnersFeaturesFinanceIndustry ContentLearn from Industry LeadersNet leaseRetail InsightVideos

Stan Johnson Company: Net Lease Retail — Investment Opportunities in the Face of Changing Market Conditions

by Sarah Daniels

Where are the opportunities in today’s single tenant net lease (STNL) market? The ever-changing nature of today’s retail environment has placed an emphasis on finding the best properties, while compressed cap rates and rising interest rates have created obstacles for investors looking for yield. Rent increases, tenant types, lease timelines and risk tolerance are all on the minds of established investors in the market as well as those looking to enter the arena for the first time. Regarding the new tenant entries to the net lease market, Curtis Hodges, senior vice …

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FinanceInvestment salesNewsPennsylvania

MMCC Arranges $4.8 Million Acquisition Loan for Retail Property in Suburban Pittsburgh

by Katie Sloan

Monroeville, Pa. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $4.8 million acquisition loan for a 12,738-square-foot retail property in Monroeville, an eastern suburb of Pittsburgh, that is fully leased to Rite Aid. Jared Cassidy of MMCC arranged the loan, which was structured with a 10-year term, fixed interest rate and a 30-year amortization schedule, through an undisclosed credit union. The undisclosed borrower acquired the asset via a 1031 exchange.

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CaliforniaFinanceNews

BridgeCore Funds $2 Million Refinancing for Family Dollar-Occupied Property in Escondido, California

by Katie Sloan

Escondido, Calif. — BridgeCore has provided a $2 million bridge loan for the refinancing of a retail property located at 607 W. 9th Ave. in Escondido. The undisclosed borrower required a bridge loan to refinance a matured loan and to obtain cash-out funds to resolve a mechanic’s lien, pay-off delinquent property taxes and cover upgrades and renovations to two of the in-line units. Family Dollar occupies the retail property. BridgeCore funded the loan with a 6.5 percent pay-rate during the entire loan term, with the remaining interest accruing to loan pay-off …

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Conference CoverageContent PartnersFeaturesFinanceIndustry ContentInvestment salesLearn from Industry LeadersRetail InsightVideos

Taylor Street: Net Lease Opportunities: STNL Deals, Multi-Tenant Outlook, 1031 Exchange Landscape

by Sarah Daniels

Where does net lease stand at the moment? As cap rates compress for single tenant net lease (STNL) deals, investors are expanding their outlooks to find retail opportunities. Multi-tenant centers, particularly three-to-five-tenant strip centers, are the property types currently appealing to Jake Baratz, sales manager & vice president of retail at Taylor Street. These traditionally second-tier net lease options are now garnering a second glance from STNL buyers and 1031 exchange buyers, especially for assets with strong tenants, long-term leases and good cashflow. Baratz sees increasing numbers of 1031 buyers …

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Gantry-Hawaii
FinanceHawaiiNews

Gantry Arranges $65 Million in Permanent Financing for Warehouse, Retail Portfolio in Hawaii

by Katie Sloan

Honolulu — Gantry has secured $65 million in permanent financing to recapitalize a portfolio located on Oahu. The two financed properties are Hanua Logistics Center, a recently completed 226,850-square-foot Class A warehouse facility, and Honolulu Design Center, an 80,000-square-foot retail center. Murphy Osborne of Gantry’s San Francisco office arranged the funding on behalf of the borrower, a private investor. Bank of Hawaii provided the financing, which features a 15-year term, including a significant interest-only period transitioning to 30-year amortization.

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Springs-Plaza_Longwood
FinanceFloridaInvestment salesNews

CrossMarc, MCB Acquire Springs Plaza Shopping Center in Metro Orlando for $19.6 Million

by Katie Sloan

Longwood, Fla. — CrossMarc Services and MCB Real Estate have purchased Springs Plaza, a 64,753-square-foot shopping center in Longwood, about 15 miles north of Orlando. Faison Enterprises also provided equity for the $19.6 million acquisition. Casey Rosen and Dennis Carson of CBRE represented the seller, an affiliate of Apollo Global Management, in the transaction. The shopping center was built in 1979 and renovated in 2017. Shadow-anchored by Publix, Springs Plaza’s tenant roster includes Tijuana Flats, golf-themed sports bar Mulligan’s, The Back Porch Longwood, Hurricane Grill & Wings, Woof Gang Bakery & …

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Village-Moorpark-CA
CaliforniaFinanceNews

Gantry Arranges $24 Million Loan for Refinancing of Southern California Retail Center

by Katie Sloan

Moorpark, Calif. — Gantry has arranged a $24 million bridge loan for the refinancing of Village at Moorpark, a retail center located at 706-790 Los Angeles Ave. in Moorpark. Amazon Fresh, Dover Saddlery and other local, regional and national tenants occupy the 129,000-square-foot property. Mark Ritchie and Austin Ridge of Gantry’s Los Angeles office arranged the financing on behalf of the borrower, a private real estate investor. An investment management platform firm provided the loan, which features earn-out provisions with holdbacks tied to future performance milestones and extensions.

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