Finance

JLL Arranges Acquisition Financing for 185,282-Square-Foot Shopping Center in Burnham, Pennsylvania

by Alex Tostado October 15, 2020

Burnham, Pa. — JLL has arranged an undisclosed amount of acquisition financing for Greater Lewistown Plaza, a 185,282-square-foot, grocery-anchored shopping center located in the Central Pennsylvania town of Burnham. Grocer Weis is the anchor tenant at the 22-acre property, and other users include CVS, Dunham Sports, Goodwill and Rent-a-Center. Michael Klein and Claudia Steeb of JLL arranged the fixed-rate loan through AmeriServ Financial. The borrower, Logan GL Holdings LLC, plans to implement a capital improvement program.

October 15, 2020

Finance Learn from Industry Leaders Videos

Video: Q&A with James Flynn of Hunt Real Estate Capital

by Sarah Daniels May 27, 2020

James Flynn, CEO of Hunt Real Estate Capital and ORIX Real Estate Capital, spoke to Shopping Center Business in a brief, 11-minute interview to give insight on what lenders think about debt and equity during the COVID-19 pandemic, industry flexibility and pivoting operations with an eye towards what assets are most likely to recover quickly after the crisis. Flynn talks not only about how the pandemic has changed business as usual for lenders, but also Orix’s acquisition of Hunt Real Estate and the need to transition as a …

May 27, 2020

Colorado Finance Grocery-anchored News Retailers

JLL Arranges $26.7 Million Refinancing for Alcove on Arapahoe Shopping Center in Boulder, Colorado

by Alex Tostado May 13, 2020

Boulder, Colo. — JLL Capital Markets has secured $26.7 million in refinancing for Alcove on Arapahoe, a community shopping center in Boulder. The firm placed the 10-year, fixed-rate loan with Nationwide for the borrower, an existing co-investment partnership that Regency Centers manages. Built in 1957 and renovated in 2019, Alcove on Arapahoe offers 159,050 square feet of retail space. Tenants include Safeway, HomeGoods, Verizon Wireless and Flower Child. Tarik Bateh, Kristian Lichtenfels and Jennifer Swanson of JLL Capital Markets arranged the financing for the borrower.

May 13, 2020

Finance Grocery-anchored New York News Retailers

NorthMarq Arranges $16.5 Million Loan for Refinancing of Shopping Center in Wallington, New Jersey

by Alex Tostado May 6, 2020

Wallington, N.J. — Northmarq has arranged a $16.5 million loan for the refinancing of Wallington Plaza, a 94,297-square-foot shopping center in Wallington, a northwestern suburb of New York City. A local bank provided the permanent loan, which carries a floating interest rate, a seven-year term and a 30-year amortization schedule. A ShopRite grocery store anchors the property, which is located at 375 Paterson Ave. Other tenants include a pet supplies store and a liquor store. Robert Ranieri of NorthMarq arranged the loan.

May 6, 2020

Finance Florida Grocery-anchored News Retailers

NorthMarq Arranges $14 Million Refinancing for Village Square Shopping Center Near Miami

by Alex Tostado April 29, 2020

Pembroke Pines, Fla. — NorthMarq has arranged a $14 million refinancing for Village Square Shopping Center, an 88,529-square-foot property in Pembroke Pines. The property features a Publix and two outparcels leased to Bank of America and McDonald’s. Village Square is situated at 1601-1697 N. Hiatus Road, 25 miles north of downtown Miami. An undisclosed life insurance company provided the loan, which features one year of interest-only payments followed by a 20-year amortization schedule. Michael Balan of NorthMarq represented the undisclosed borrower in the transaction.

April 29, 2020

Development Finance New York News Retailers

Houlihan-Parnes Arranges $10 Million Construction Loan for Stop & Shop Store in Woodmere, New York

by Alex Tostado April 29, 2020

Woodmere, N.Y. — Houlihan-Parnes LLC has arranged a $10 million construction loan for a retail project that will deliver an 80,000-square-foot Stop & Shop grocery store in Woodmere, a city located on the western part of Long Island. An undisclosed national lender provided the loan, which carries a fixed interest rate of 2.78 percent. The grocery store will be constructed in the Five Towns Shopping Center, an approximately 500,000-square-foot retail center located at 253-01 Rockaway Blvd., just east of JFK International Airport. The tenant roster includes Lowe’s Home Center, TJ …

April 29, 2020

Finance Investment sales News Retailers West Virginia

Uber Capital Arranges $11 Million Acquisition Loan for Shopping Center in Logan, West Virginia

by Alex Tostado April 27, 2020

Logan, W.Va. — Uber Capital Group has arranged an $11 million acquisition loan for Fountain Place Shopping Center, a 226,096-square-foot retail property in Logan. The five-year loan features a fixed 4.5 percent interest rate and a 20-year amortization schedule. Fountain Place was built in 1997 at 1103 George Kostas Drive, four miles west of downtown Logan. At the time of sale, the property was leased to tenants including anchors Lowe’s Home Improvement and Walmart Supercenter, as well as Rue 21, Burkes Outlet, Shoe Show Mega Store, Dollar Tree, Southern West …

April 27, 2020

California Content Partners Faris Lee Investments Finance News Retailers

Faris Lee Arranges $39.6 Million Refinancing for Packing House Square Mixed-Use Center in Yorba Linda, California

by Alex Tostado April 8, 2020

Yorba Linda, Calif. — Faris Lee Investments has arranged $39.6 million in financing for Packing House Square, a mixed-use center located at 18180-18389 Yorba Linda Blvd. in Yorba Linda. The borrower is an undisclosed private investment company. Loan proceeds will be used to reposition the asset as a medical arts plaza with a medical anchor tenant; renovate the existing retail plaza by adding an additional 11,450-square-foot corner retail wing; and re-tenant the vacant units. Jay Quinn and Kirt Boultinghouse of Faris Lee sourced the three-year bridge loan with Los Angeles-based …

April 8, 2020

Development Finance News Retailers Tennessee

Staghorn Capital Arranges $5.4 Million Construction Loan for Retail Development Near Nashville

by Alex Tostado April 1, 2020

Gallatin, Tenn. — Staghorn Capital Partners has arranged a $5.4 million construction loan for RREAF Holdings to develop Phase I of Shoppes at Hunter Pointe in Gallatin, about 30 miles northeast of Nashville. The property is expected to comprise 25,147 square feet and, with appropriate performance of Phase I, the loan will aid in developing Phase II. The loan features a floating interest rate with two years of interest-only payments followed by a 25-year amortization schedule. Tyler Rentfro of Staghorn Capital originated the loan through an undisclosed regional bank on …

April 1, 2020

Connecticut Finance News Retailers

ABS Altman Warwick Arranges $15.2 Million Refinancing Loan for Retail Center in Hartford, Connecticut

by Alex Tostado March 30, 2020

Hartford, Conn. — ABS Altman Warwick, a division of ABS Partners Real Estate, has arranged a $15.2 million permanent refinancing loan for Charter Oak Marketplace, a 309,800-square-foot shopping center located in Hartford. An undisclosed direct lender provided the seven-year, non-recourse loan, which features a fixed interest rate of 3.5 percent. Walmart anchors the shopping center along with tenants including Marshall’s and Dollar Tree, as well as several restaurants. The borrower was Paramount Realty. Morris Dweck of ABS Altman Warwick originated the loan.

March 30, 2020

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