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KPR Centers Secures $33.9 Million in Acquisition Financing for University Hills Retail Center in Denver

by Hayden Spiess

Denver — KPR Centers has secured a $33.9 million loan to finance the acquisition of University Hills, a retail center located in Denver. Sunny Sajnani and Travis Headapohl of Institutional Property Advisors (IPA) Capital Markets, a division of Marcus & Millichap, arranged the five-year financing through a life insurance company lender. The fixed-rate loan features full-term interest-only payments and prepayment open at par for the last year.  Tom Lagos of IPA procured the buyer in the sales transaction. University Hill was fully leased to tenants including King Soopers, Michaels, Marshalls, Office …

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FinanceFloridaGeorgiaGrocery-anchoredKentuckyNewsTennessee

CBRE Arranges $171.4 Million Refinancing for Shopping Center Portfolio in the Southeast

by Hayden Spiess

Atlanta — CBRE has arranged a $171.4 million loan for the refinancing of an eight-property portfolio of grocery-anchored shopping centers in the Southeast. Comprising roughly 1.2 million square feet, the portfolio was 96.6 percent leased at the time of financing to 194 tenants including Kroger, Publix and Whole Foods Market. PGIM provided the financing to the borrowers, Branch Properties and Corebridge Real Estate Investors (formerly AIG Global Real Estate). Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE arranged the loan, which was used to refinance the existing mortgages …

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Toro Development Obtains Construction Financing for $560 Million Medley Mixed-Use Development in Metro Atlanta

by Hayden Spiess

Johns Creek, Ga. — Toro Development Co. has obtained construction financing for Medley, a $560 million mixed-use project in the Atlanta suburb of Johns Creek. Toro plans to break ground on the 43-acre development in December, with the opening scheduled for late 2026. The financing includes an undisclosed amount of equity from private equity firm Ascentris, as well as a $158 million construction loan from Banco Inbursa. Upon completion, Medley will feature 150,000 square feet of retail, restaurant and entertainment space; a 175-room boutique hotel; 110,000 square feet of office space; …

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Wood Investments Cos. Secures $20.3 Million Refinancing for Shopping Center in Helena, Montana

by Hayden Spiess

Helena, Mont. — Wood Investments Cos. has secured a $20.3 million permanent loan for the refinancing of Helena Skyway Regional Shopping Center in Helena. Wells Fargo provided the financing. Tenants at the property, which totals 164,121 square feet, include T.J. Maxx, Ulta Beauty and Hobby Lobby. Sierra and Chick-fil-A also recently signed leases at the center and are scheduled to open this November and at the end of 2025, respectively. Wood Investments acquired the property, which is now fully leased, in September 2022. 

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A&G Markets 255 Big Lots Store Leases For Sale

by Hayden Spiess

Melville, N.Y. — Melville-based A&G Real Estate Partners is accepting bids on 255 Big Lots store leases throughout the country as part of the retailer’s Chapter 11 restructuring. Of the leases, 51 are new to market. Big Lots initiated voluntary Chapter 11 bankruptcy proceedings Sept. 9 to facilitate a sale of substantially all of its assets and business operations. Ranging in size from 16,321 to 54,610 square feet, the leases are located across 41 states. Final bid deadlines for the leases, which A&G is offering in two groups, will be in …

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Company newsFinanceNewsRestaurantsTexas

TGI Fridays Files for Chapter 11 Bankruptcy

by Hayden Spiess

Dallas — TGI Fridays Inc., which owns and operates 39 U.S. restaurants, has voluntarily filed for Chapter 11 bankruptcy protection in the Northern District of Texas. The Dallas-based operator cited long-running declines in sales dating back to the pandemic as the main impetus behind the filing. All independently owned and operated franchise locations, both foreign and domestic, are unaffected by the filing. An entity doing business as TGI Fridays Franchisor LLC, which owns the TGI Fridays brand and other intellectual property, was also unaffected. TGI Fridays Inc. has secured a commitment …

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Majestic Realty Co. Secures Refinancing Totaling $118.9 Million For Two Shopping Centers in California

by Hayden Spiess

Redlands, Calif. — Majestic Realty Co. Capital Markets has secured loans totaling $118.9 million for the refinancing of two shopping centers located in Redlands. Situated within a 100-acre mixed-use development, the properties — Mountain Grove Shopping Center and Citrus Plaza Shopping Center — together comprise roughly 1 million square feet. A life insurance company provided first trust deed loans of $62.4 and $56.5 million, respectively, for the centers, which Majestic Realty Co. and affiliates developed and manage. Tenants at the properties include Target, Harkins Theaters, Aldi, Nordstrom Rack, Kohl’s, Hobby Lobby, …

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Gordon Brothers Provides $150 Million Debtor-in-Possession Financing to Big Lots

by Hayden Spiess

Boston — Boston-based Gordon Brothers has provided a $150 million debtor-in-possession (DIP) loan to Big Lots Inc. The financing will support the Columbus, Ohio-based company’s going-concern sale and stalking horse bid as it continues Chapter 11 bankruptcy proceedings. Gordon Brothers previously provided a $200 million delayed draw term loan to Big Lots. “As the liquidation agent for the non-go-forward store closures, distribution centers and furniture, fixtures and equipment, we will continue to support the company during the sale process,” says Kyle Shonak, senior managing director, transaction team and head of North …

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PSRS Secures $4 Million Refinancing for Retail Property in Ceres, California

by Hayden Spiess

Ceres, Calif. — PSRS has secured a $4 million loan for the refinancing of a retail property situated within Ceres Gateway Center in Ceres. Tractor Supply Co. occupies the 21,702-square-foot building, which was developed on a built-to-suit basis in 2023. Kostas Kavayiotidis and Matthew Farzinpour of PSRS arranged the non-recourse loan, which features a five-year term, on behalf of the undisclosed borrower. A correspondent life insurance company provided the loan.

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Company newsFinanceGrocery-anchoredNews

Slate Grocery REIT Secures $500 Million Refinancing 

by Hayden Spiess

Toronto — Slate Grocery REIT, a Toronto-based owner and operator of grocery-anchored retail properties in the United States, has entered into a $500 million credit facility agreement. The refinancing comprises a $275 million revolving credit facility and a $225 million term loan facility with maturity scheduled for January 2028. The REIT is also in negotiations with lenders to refinance an additional $138 million of upcoming debt maturities. “In today’s financing environment, our ability to refinance half a billion dollars of debt at such favorable economic terms reflects the strength and quality …

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