Finance

The-Oaks-of-District-West-Richmond-Texas
DevelopmentFinanceNewsTexas

Forman Capital Provides $37 Million Construction Loan for Metro Houston Retail Development

by Abby Cox

Richmond, Texas — Florida-based Forman Capital has provided a $37 million construction loan for The Oaks of District West, an 87,244-square-foot retail project located in Richmond, approximately 30 miles southwest of Houston. Developed by Ferguson Family Partners, The Oaks of District West will consist of 10 buildings that are 70 percent preleased, as well as central green space. Tenants that have committed to the project include pickleball concept The PICKLR, Grazia Italian Kitchen, Luckie’s Burger, Pacific Coast Tacos, Virtual Golf Bar and Pecan Jack’s Ice Cream. Daniel Eidson of Concord …

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Dior-Saks
Company newsFinanceNew YorkNews

Saks Global Files for Chapter 11 Bankruptcy, Secures $1.75 Billion Financing Commitment

by Abby Cox

New York City — Saks Global Holdings LLC, the owner of luxury retailers such as Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, has filed for voluntary Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas. The company secured a financing commitment of approximately $1.75 billion, comprising $1.5 billion from an ad hoc group of the company’s senior secured bondholders and roughly $240 million of incremental liquidity from its asset-based lenders. Saks Global says the financing package will strengthen its balance sheet and position …

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FinanceGrocery-anchoredNew YorkNews

Newmark Arranges $425 Million Sale, Financing for The Shops at Skyview in New York City

by Abby Cox

New York City — Newmark has arranged the $425 million sale of The Shops at Skyview, a 555,000-square-foot grocery-anchored retail center located in the Flushing neighborhood of Queens in New York City. Jordan Roeschlaub, Nick Scribani, John Caraviello and Tim Polglase of Newmark secured a $289 million acquisition loan through Mizuho on behalf of the buyers, a joint venture between Acadia Realty Trust and TPG Real Estate. Adam Spies, Adam Doneger, Conor Lalor and Ben Lushing, also of Newmark, represented the seller, Perform Properties, in the transaction. Anchored by BJ’s Wholesale …

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North-Reno-Plaza
FinanceGrocery-anchoredNevadaNews

Gantry Arranges $17.8 Million in Refinancing for Grocery-Anchored Center in Reno, Nevada

by Abby Cox

Reno, Nev. — Gantry has arranged a $17.8 million permanent loan to refinance North Reno Plaza, a 130,000-square-foot neighborhood center in Reno. Tony Kaufmann and Alex Poulos of Gantry represented the borrower, a private real estate investor, in securing the five-year, fixed-rate loan through one of Gantry’s lenders, which features a 30-year amortization schedule. The new loan will retire the construction debt Gantry previously arranged for the borrower for the 2024 repositioning of North Reno Plaza. The recent renovation features various center improvements, including the addition of several new tenants such …

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Millburn-Village
FinanceNew JerseyNews

Ameritas Investment Corp. Provides $13.5 Million in Refinancing for Millburn Village in Vauxhall, New Jersey

by Abby Cox

Vauxhall, N.J. — Ameritas Investment Corp. has provided a $13.5 million loan for the refinancing of Millburn Village, a 71,177-square-foot shopping center in Vauxhall. Ryan Carroll, Tyler Caricato and Caleb Henry of JLL arranged the three-year, fixed-rate loan on behalf of the borrower, Lightstone. Tenants at Millburn Village include Walgreens, Staples and Five Guys, among others. Lightstone originally acquired Millburn Village in 2003.

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Salem-Gate-Market
FinanceGeorgiaInvestment salesNews

JLL Negotiates $25.4 Million Sale, Financing of Salem Gate Market in Metro Atlanta

by Abby Cox

Conyers, Ga. — JLL Capital Markers has negotiated the $25.4 million sale of Salem Gate Market, a 177,527-square-foot retail center located in Conyers, a southeast suburb of Atlanta in Rockdale County. Brad Buchanan, Jim Hamilton, Andrew Kahn and Anton Serafini of JLL represented the seller, Tri-Land Properties, in the transaction. Gregg Shapiro, Hunter Goldberg and Austin Smith, also of JLL, represented the buyer, Highline Real Estate Capital LLC, in procuring the acquisition loan. Salem Gate Market is fully leased to tenants including Floor & Decor, Academy Sports + Outdoors, Northern Tool …

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Winston-Plaza
FinanceIllinoisNews

Pacific Southwest Realty Arranges $36 Million in Refinancing for Winston Plaza in Melrose Park, Illinois

by Abby Cox

Melrose Park, Ill. — Pacific Southwest Realty has arranged $36 million in refinancing for Winston Plaza, a 400,000-square-foot shopping center located in the Chicago suburb of Melrose Park. Kostas Kavayiotidis of Pacific Southwest Realty and Bryan Gortikov of Gortikov Enterprises arranged the loan through Wells Fargo on behalf of the borrower, NewMark Merrill. Sandra Kist and Josh Ginsborg internally represented NewMark Merrill in the transaction. NewMark Merrill acquired Winston Plaza in 2008, and shortly thereafter completed an extensive remodeling and repositioning of the property. The center has added more than 100,000 square feet of new retailers in the …

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Tampa-Bay-Center
FinanceFloridaNews

JLL Arranges $22.8 Million in Financing for Tampa Bay Center in Florida

by Abby Cox

Tampa, Fla. — JLL Capital Markets has arranged $22.8 million in financing for the acquisition of Tampa Bay Center, a 149,375-square-foot shopping center in Tampa. Josh Odessky, Paul Adams and Justin Ratcliffe arranged the five-year, fixed-rate loan through BankUnited on behalf of the borrower, Triarch Capital Group. Debt was provided through a private family foundation.  Tampa Bay Center is fully leased to 10 tenants including Floor & Décor, Ashley Furniture, Dollar Tree, The Tile Shop and T-Mobile.

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Overland-Crossing
FinanceGrocery-anchoredKansasNews

JLL Arranges $25.5 Million in Refinancing for 140,806-Square-Foot Grocery-Anchored Shopping Center in Suburban Kansas City

by Abby Cox

Overland Park, Kan. — JLL Capital Markets has arranged $25.5 million for the refinancing of Overland Crossing, a 140,806-square-foot grocery-anchored center located in the Kansas City suburb of Overland Park. Tenants at the center, which is 94 percent occupied, include a newly constructed Whole Foods, Burlington Coat Factory, Nordstrom Rack and Five Below. The property also features three pad sites. Overland Crossing previously underwent an expansion and redevelopment in 2021, which included the addition of Whole Foods Market. Chris Gandy, Tom Gilliland and Michael Nieder of JLL secured the three-year, floating-rate …

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Best-Buy_Brook-Highland-Plaza_Birmingham
AlabamaFinanceNewsPower centers

CBRE Arranges $57 Million in Refinancing for 422,337-Square-Foot Power Center in Birmingham, Alabama

by Abby Cox

Birmingham, Ala. — CBRE has arranged a $57 million loan for the refinancing of Brook Highland Plaza, a 422,337-square-foot power center located in Birmingham. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE’s Debt & Structured Finance team in Atlanta arranged the loan through an undisclosed life insurance company on behalf of the borrower, First National Realty Partners. Brook Highland Plaza is situated on 52 acres and was 94.4 percent leased at the time of sale to tenants including Sprouts Farmers Market, Best Buy, Burlington, HomeGoods, Michaels, Shoe …

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