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Finance

Landing at Woodyard
FinanceMarylandNews

JLL Secures $44.5 Million Loan for Landing at Woodyard in Metro D.C.

by Julia Sanders

Clinton, Md. — JLL Capital Markets has secured a $44.5 million loan for The Landing at Woodyard, a newly redeveloped, 210,000-square-foot shopping center located in the Washington, D.C. suburb of Clinton. JLL worked on behalf of the borrower, Meritus Realty Ventures, to place the 10-year, fixed-rate CMBS loan with Morgan Stanley Real Estate. Loan proceeds were used to repay the existing bridge loan and fund remaining improvements for the tenants that recently signed new leases. Meritus has owned Landing at Woodyard since 2016. The center is 95 percent leased with …

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16000 Pines Market
FinanceFloridaNews

Thorofare Capital Provides $43.7 Million Financing for 16000 Pines Market Retail Development in South Florida

by Julia Sanders

Pembroke Pines, Fla. — Thorofare Capital Inc. has provided $43.7 million in senior mortgage financing to an entity managed by Miami-based Terra for 16000 Pines Market, a 135,000-square-foot mixed-use development nearing completion in Pembroke Pines. Keith Kurland, Jackson Sastri and Ian Hawk of Walker & Dunlop arranged the financing. Terra will utilize the loan proceeds to finish construction, capitalize tenant improvements/leasing commissions and carry the project until it’s stabilized. The first phase of construction for 16000 Pines Market was completed earlier this year, with construction of Phase II now underway …

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Market Meadows
FinanceIllinoisNews

Associated Bank Provides $26.7 Million Acquisition Loan for Market Meadows Shopping Center in Suburban Chicago

by Julia Sanders

Naperville, Ill. — Associated Bank has provided a $26.7 million loan to Shorewood Development Group for the acquisition and revitalization of Market Meadows Shopping Center, a 148,700-square-foot, multi-tenant retail property located at 1201 S. Naper Blvd. in the Western Chicago suburb of Naperville. Tenants at the center include Jewel, US Bank, McDonald’s and T-Mobile. New leases have been signed for the property with Chipotle Mexican Grill, BMO, Jersey Mike’s, Big Blue Swim School and Delta Life Fitness. Daniel Barrins of Associated Bank’s Commercial Real Estate group handled loan arrangements and …

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Covington Town Center
FinanceGeorgiaNews

TrueRate Services Arranges $9.3 Million Refinancing for Mixed-Use Development in Metro Atlanta

by Julia Sanders

Covington, Ga. — TrueRate Services has arranged a $9.3 million refinancing for the final phase of Covington Town Center, a mixed-use development spanning 180 acres in Covington, roughly 35 miles east of Atlanta. Dan Gorczycki of TrueRate secured the financing through Thorofare Capital on behalf of the sponsor, an entity doing business as Covington Town Center LLC. The loan will be used for vacant retail parcels within the Town Center. Comprising 54.5 acres, the final phase of Covington Town Center includes retail outparcels that will be sold to individual retailer. …

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Verde at Cooley Station
ArizonaFinanceNews

Parkview Provides $28 Million Construction Loan for Verde at Cooley Station in Gilbert, Arizona

by Julia Sanders

Gilbert, Ariz. — Parkview Financial has provided a $28 million construction loan to Verde Gilbert LLC for the development of Verde at Cooley Station, a lifestyle center located at 17201-17361 E. Williams Field Road in Gilbert. Verde Gilbert LLC is a joint venture between three development companies led by SB2 Communities. Upon completion, the 10-building, 96,000-square-foot property will offer 44,000 square feet of retail space, 13,000 square feet of office space, 31,000 square feet of restaurant space and 8,000 square feet of fitness space. Designed to be a restaurant-centric, mixed-used …

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CaliforniaFinanceNews

PSRS Arranges $40 Million Refinancing for La Alameda Shopping Center in Los Angeles

by Julia Sanders

Los Angeles — PSRS has arranged a $40 million refinancing for La Alameda Shopping Center, a 244,554-square-foot retail plaza located in Los Angeles. Kostas Kavayiotidis, Mike David and Jacob Lee secured the financing for the undisclosed borrower. The non-recourse loan features 10 years of interest-only payments. Built in 2008, La Alameda Shopping Center consists of six one- and two-story building clusters offering a total of 226,826 square feet of retail space and 17,728 square feet of office space on 18.3 acres. The multi-tenant property also features pedestrian-friendly courtyards, plaza spaces, …

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Saks 5th Avenue
CaliforniaFinanceNews

Gantry Arranges $20 Million Recapitalization for Beverly Hills Saks 5th Avenue Location

by Julia Sanders

Beverly Hills, Calif. — Gantry has secured $20 million to recapitalize the signature Beverly Hills location of Saks 5th Avenue. The loan was originated with one of Gantry’s correspondent life insurance company lenders and secured on behalf of the private client property owner. Situated on Wilshire Boulevard, the property is a landmark location for the luxury retailer. Saks 5th Avenue men’s and bridal departments occupy the entire building, while the remaining departments are located in Saks’ separate building immediately east across Bedford Drive. The subject property also includes an adjacent …

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Rolling Hills
ArizonaFinanceInvestment salesNews

KeyBank Secures $11.4 Million Acquisition Financing for Retail Property in Tucson, Arizona

by Julia Sanders

Tucson, Ariz. — KeyBank Real Estate Capital has secured $11.4 million in acquisition financing for Rolling Hills Square, a 114,102-square-foot shopping center anchored by Fry’s grocery store in Tucson. The property includes six buildings and a vacant parcel. The financing, which was secured on behalf of Portal Investment Management, includes an initial funding of $9.8 million and a future funding of $1.6 million. The future funding will be used for tenant and capital improvement expenses as Portal Investment Management repositions the property. The loan is structured with a three-year, interest-only …

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Freys Hill Retail Center
FinanceKentuckyNews

NorthMarq Secures $10.5 Million Acquisition Financing for Freys Hill Retail Center in Louisville, Kentucky

by Julia Sanders

Louisville, Ky. — NorthMarq has secured $10.5 million in acquisition financing for Freys Hill Retail Center, a 58,726-square-foot retail property located at 10220 Westport Road in Louisville. The fully-occupied center is anchored by PetSmart and home to tenants including Half Price Books, Party City and Starbucks Coffee. The fixed rate loan was structured with a 10-year term on a 25-year amortization schedule with two years interest-only. Randall Waddell of NorthMarq arranged financing for the buyer, Compass Capital LLC of Lexington, through its relationship with a local bank.

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FinanceIllinoisInvestment salesNews

Stream Capital Partners Arranges $29 Million Sale-Leaseback of Texas Restaurant Portfolio

by Julia Sanders

Chicago — Chicago-based Stream Capital Partners LLC has arranged a $29 million sale-leaseback of a portfolio of nine quick service restaurants located throughout Texas. Palenque Group, which operates 34 restaurants throughout the state under the Taco Palenque, Pollo Palenque and Palenque Grill brands, was the seller and will continue to occupy the properties. The buyer was not disclosed. Chelsea Mandel of Stream Capital Partners brokered the deal.

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