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DevelopmentFinanceFloridaNews

Tricera Capital Obtains $50.8 Million Loan for Adaptive Reuse Development in West Palm Beach

by Julia Sanders

West Palm Beach, Fla. — Tricera Capital has obtained a $50.8 million loan for The Press, a mixed-use project in West Palm Beach. The transaction refinances an existing loan and provides the company with funding to complete its redevelopment of the existing Palm Beach Post campus. Jason Krane and Simon Ziff of Ackman-Ziff Real Estate Group arranged the financing on behalf of Tricera through Monroe Capital LLC. Law firm Polsinelli served as Tricera’s legal representative for the transaction. Located on more than 11 acres at 2751 S. Dixie Highway, the …

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FinanceInvestment salesNewsTexas

NorthMarq Arranges $3.8 Million Acquisition Loan for Louetta Creek Plaza in Metro Houston

by Julia Sanders

Spring, Texas — NorthMarq has arranged a $3.8 million acquisition loan for Louetta Creek Plaza, a 26,472-square-foot retail center in the northern Houston suburb of Spring. Tenants at the property include State Farm, Snowflake Donuts, Expro Nails, Leslie’s Pool Supplies and Pizza Zone. Travis Fite of NorthMarq arranged the fixed-rate loan through life company StanCorp on behalf of the undisclosed borrower. The seller was also not disclosed.

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FinanceInvestment salesNew YorkNews

Progress Capital Arranges $15 Million Acquisition Loan for Harlem Development Site

by Julia Sanders

New York City — Progress Capital has arranged a $15 million acquisition loan for a development site located at 124-132 E. 125th St. in Harlem. The site is situated near public transit outlets and several recreational areas such as McNair Park, Alice Kornegay Triangle and Harlem Art Park. The borrower, locally based developer Maddd Equities, plans to construct a building of an undisclosed size that will feature retail and other types of commercial space. Brad Domenico of Progress Capital arranged the loan, terms of which included two years of interest-only …

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Lido Marina Village
CaliforniaFinanceNews

George Smith Partners Arranges $45.6 Million Loan for Lido Marina Village in Newport Beach

by Julia Sanders

Newport Beach, Calif. — George Smith Partners has arranged $45.6 million in bridge financing on behalf of DJM Capital for the recapitalization of Lido Marina Village, a multi-block, waterfront retail and office property on Balboa Peninsula in Newport Beach. Lido Marina Village features 106,000 square feet of retail, restaurant and office space in 14 separate structures, including waterfront retail and restaurant space, as well as 47 boat slips. Current tenants include Nobu, Malibu Farm, Elysse Walker, LoveShakeFancy, Serena & Lily and Jenni Kayne. Steve Bram, David Pascale and Patrick O’Donnell …

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Chapin Crossing
FinanceInvestment salesNewsSouth Carolina

Aztec Group Secures $10.8 Million Acquisition Financing for Shopping Center in Chapin, South Carolina

by Julia Sanders

Chapin, S.C. — Aztec Group Inc. has secured $10.8 million in debt and equity for the acquisition of Chapin Crossing, a 72,714-square-foot, Publix-anchored shopping center in Chapin. Jason Shapiro, Sean Harrington and Joel Zusman of Aztec Group arranged the financing on behalf of the buyer, a partnership led by affiliates of Miami-based CF Properties Corp. A Missouri-based life insurance company provided the 10-year loan, which features a fixed interest rate under 3 percent. Located at 1235 Chapin Road, Chapin Crossing was built in 2017 and is situated at the southwest …

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DevelopmentFinanceFloridaNews

JLL Secures Construction Financing for Publix-Anchored Center Near Fort Myers, Florida

by Katie Sloan

Babcock Ranch, Fla. — JLL Capital Markets has secured construction financing for the development of Crescent B Commons, an 82,640-square-foot, Publix-anchored neighborhood shopping center in Babcock Ranch, a new town situated northeast of Fort Myers. Tarik Bateh and Jennifer Swanson of JLL arranged the loan through Ameris Bank on behalf of the developer, Kitson & Partners. Construction on the center began in August 2020 and is slated for completion in summer 2021. The Publix is set to open shortly after. Crescent B Commons will be located in the front of Babcock Ranch, …

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FinanceIdahoNewsUtahWashington

JLL Capital Markets Arranges $274.4 Million Refinancing for Six-Property West Coast Retail Portfolio

by Katie Sloan

Seattle; Boise, Idaho; and Salt Lake City — JLL Capital Markets has secured $274.4 million in financing for a six-property portfolio of core-quality retail centers totaling 2.7 million square feet across Seattle, Boise and Salt Lake City. The borrower is a joint venture between CenterCal Properties, a large pension fund and its advisors Principal and PCCP. The financing includes five separate 10-year, fixed-rate, non-recourse CMBS loans provided by JP Morgan Chase. Loan proceeds were used to retire existing debt and rebalance leverage across the portfolio. The portfolio consists of four grocery-anchored shopping centers, one power …

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FinanceGeorgiaNews

Media Reports: Lenders Foreclose on Town Center at Cobb Mall in Metro Atlanta

by Katie Sloan

Kennesaw, Ga. — Town Center at Cobb Mall, a nearly 1.3 million-square-foot enclosed regional mall in the northern Atlanta suburb of Kennesaw, was foreclosed on by its lenders, according to the Marietta Daily Journal. Indianapolis-based Simon Property Group (NYSE: SPG) was the previous owner, manager and developer of the mall. Deutsche Bank Trust Corp. was the lead lender and trustee of the $200 million loan, which the global bank made with other investors in 2012. Deutsche Bank Trust auctioned the mall on Tuesday, Feb. 2 and set the opening bid at $130.4 …

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AMC
Company newsFinanceKansasNews

AMC Theatres Raises $917 Million of Investment Capital, Says Bankruptcy is ‘Completely Off Table’

by Katie Sloan

Leawood, Kan. — In effort to remain financially afloat amid the COVID-19 pandemic, AMC Entertainment Holdings Inc. (NYSE: AMC) has raised or signed commitment letters to receive $917 million of new equity and debt capital. The Leawood-based movie theater company says the increased liquidity should enable it to survive well into 2021. Of the $917 million, AMC raised $506 million of equity from the issuance of new common shares. Additionally, the company executed commitment letters for $411 million of incremental debt capital from upsizing and refinancing its European revolving credit …

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DevelopmentFinanceMixed-useNewsRetailersUtah

Columbia Pacific Advisors Provides $31.1 Million Construction Loan for Development of Campus SLC in Salt Lake City

by Alex Tostado

Salt Lake City — Columbia Pacific Advisors Bridge Lending, a subsidiary of Columbia Pacific Advisors, has provided a $31.1 million loan for the construction of Campus SLC, a 130,000-square-foot property that will feature anchors winter sports retailer Evo and rock climbing gym The Bouldering Project. The property will also feature local retailer L9 Sports, an art gallery, dining options, a skatepark and other recreational activities. Campus SLC will be situated at the former site of an industrial plant in Salt Lake City’s Granary district. Will Nelson of Columbia Pacific Advisors …

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