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.
New York City — Emerald Creek Capital has provided a $15 million first mortgage bridge loan for a 300,000-square-foot mixed-use building located in Queens. The property includes 22 floors of hotel space, 10 levels of medical office space and 50,000 square feet of retail and event space. The building also features 300 below-grade parking spaces. Dean Wang of Emerald Creek Capital originated the financing on behalf of the borrower, Fleet Financial Group.
Fairfield, Conn. — Axiom Capital Corp. has arranged an $11 million CMBS loan for the redevelopment of a retail property in Fairfield. Kohl’s formerly occupied the asset, which is being converted into a multi-tenant property that will house retailers including Aldi and Floor & Décor. The nonrecourse, fixed-rate loan was structured with a 10-year term and 10 years of interest-only payments. The borrower was an undisclosed private developer.
Miami — JLL has secured a $26.6 million refinancing for Town and Country Plaza, a 94,815-square-foot, fully-occupied shopping center in an infill location in Miami. Chris Drew, Brian Gaswirth and Reid Carleton of JLL secured the 11-year, full-term interest-only loan through The Guardian Life Insurance Co. of America on behalf of the borrower, MMG Equity Partners. Town and Country Plaza is anchored by Sedano’s Supermarket and home to tenants including Sherwin-Williams, Navarro Discount Pharmacy, Goodwill, Express Auto Care and Discount Auto Parts.
Hillsdale, N.J. — Axiom Capital Corp. has placed a $17.8 million loan for the refinancing of a 63,000-square-foot retail building in the Northern New Jersey community of Hillsdale. An undisclosed bank provided the loan to the borrower, a private investor and developer. The property has been leased to a single tenant on a triple-net basis since 1979 and was also renovated between 2016 and 2017.
Plainfield, Ind. — Parkview Financial has provided a $34 million bridge loan for the refinancing and repositioning of Shops at Perry Crossing in Plainfield, a southwest suburb of Indianapolis. Built in 2006 and located at 2499 Futura Parkway, the lifestyle center spans 600,000 square feet. It is home to 40 tenants, including JC Penney, Dick’s Sporting Goods, AMC Theaters, H&M, DSW and Old Navy. The property suffered tenancy issues as a result of the pandemic and fell into receivership. However, Poag Shopping Centers was able to regain ownership and plans …
