Columbus, Ga. — Mag Mile Capital has secured $3 million in acquisition financing for a triple-net-leased retail property located at 3498 Victory Drive in Columbus. The 3,648-square-foot retail property is fully leased to Caliber Car Wash. Paula Mello and Matt Weilgus of Mag Mile Capital arranged the 10-year, fixed-rate loan through an undisclosed regional credit union on behalf of the borrower, Freeport Equity. The loan features a 25-year amortization schedule.
Durham, N.C. — Newmark has secured $65.5 million in refinancing for University Hill, a mixed-use property in Durham with multifamily, retail and art uses. Josh Davis, Chris Caison and C.J. Webb of Newmark’s Debt and Structured Finance team secured the bridge financing on behalf of the project’s developer, Shoff Allison with Hawthorne Residential Partners, and Drake Real Estate Partners. Pacific Life Insurance Co. provided the financing, which included a floating rate loan with an initial term of three years and two, one-year extension options. Completed in 2020, University Hill offers …
New York City — NorthMarq has arranged a $17.5 million CMBS loan for the refinancing of Eltingville Shopping Center, a 98,523-square-foot retail property in Staten Island. Tenants include Rite Aid, Advance Auto Parts and Santander Bank. Charles Cotsalas and Robert Delitsky of NorthMarq arranged the 10-year, interest-only loan through an undisclosed direct lender. The borrower was also not disclosed.
Petersburg, Va. — Eastern Union has secured an $8.2 million loan for the acquisition of South Crater Square and Pinehill Plaza, two single-story retail centers in Petersburg. Marc Tropp of Eastern Union arranged financing for the acquisition, which had a sales price of $10.3 million in total, on behalf of the buyer, Pikesville, Maryland-based America’s Realty. The retail centers, which total 192,510 square feet, are situated opposite from each other along South Crater Road. South Crater Square is a 107,028-square-foot center that was 83 percent leased at the time of …
Miami Gardens, Fla. — MMG Equity Partners has received $16.8 million for the refinancing of Miami Gardens Shopping Center, a 117,829-square-foot grocery-anchored shopping center located in Miami Gardens. Chris Drew, Brian Gaswirth and Reid Carleton of JLL Capital Markets secured the financing through Guardian Life Insurance Co. of America on behalf of the borrower. The center was 97 percent occupied at closing by tenants including Presidente Supermarket, Family Dollar, Humana Health, Subway and Amscot.
Mesa, Ariz. — KeyBank Real Estate Capital has secured the $77.1 million refinancing of Superstition Gateway, a shopping center consisting of 25 single-story buildings in Mesa. Built in 2007, the center is home to tenants including Kohl’s, Bed Bath & Beyond, LA Fitness and AMC Theatres. John Loshbaugh and Robert Ray of KeyBank secured the fixed-rate, CMBS loan on behalf of the borrower, Desert Troon Companies.
Decatur, Ind. — Ariel Property Advisors has arranged the $2.8 million refinancing of a 15,000-square-foot retail property occupied by Walgreens in Decatur, about 20 miles southeast of Fort Wayne. The property is located at 123 N. 13th St. Matt Dzbanek and Matt Swerdlow of Ariel arranged the five-year loan, which features a fixed interest rate of 3.99 percent. A national credit union provided the loan on behalf of the undisclosed borrower.
Atlanta — JLL Capital Markets has arranged a construction loan for Phase I of High Street, a $2 billion, 36-acre mixed-use project located along Perimeter Center Parkway in Atlanta. Ed Coco and Matt Casey of JLL secured the financing through Bank OZK on behalf of the developer, GID Development Group. At full build-out, the development will feature 150,000 square feet of retail and restaurants, 600 luxury multifamily units and 90,000 square feet of office space. GID will break ground on Phase I of the project this year with completion scheduled …
Kirkland, Wash. — Gantry has arranged a $190 million loan to recapitalize the Carillon Point mixed-use campus in Kirkland. Mike Taylor and Patrick Taylor of Gantry’s Seattle office secured the 15-year loan, which was placed with Principal Real Estate Investors. The name of the borrower was not released. Fronting Lake Washington, the 26-acre property features a mix of Class A office space, a boutique hotel, retail space and a 200-slip marina. Carillon Point totals six buildings and offers 440,000 square feet of mixed-use space, including the 100-room hotel.
Vineland, N.J. — Cronheim Mortgage has arranged a $9.6 million acquisition loan for Maintree Shopping Center, a 140,000-square-foot grocery-anchored retail property located in the Southern New Jersey city of Vineland. Andrew Stewart and David Poncia of Cronheim Mortgage arranged the fixed-rate loan, which carried a five-year term and a 25-year amortization schedule, on behalf of the borrower, Aspen Real Estate. The property was 80 percent leased at the time of the loan closing. The direct lender was an undisclosed, Philadelphia-based credit union.
