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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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FinanceIllinoisNewsRetailers

Aries Capital Arranges $3.4 Million Loan for Acquisition of Restaurant Building Occupied by Hampton Social in Chicago

by Alex Tostado

Chicago — Aries Capital has arranged a $3.4 million loan for the acquisition of an 8,700-square-foot restaurant building located at 164 E. Grand Ave. in Chicago’s Streeterville neighborhood. The Hampton Social fully occupies the property. Neil Freeman and Brandon Perdeck of Aries arranged the five-year, fixed-rate loan on behalf of the borrower, Rüger Holding, which is a Germany-based real estate owner and developer. A local bank provided the loan, which features an interest rate under 4 percent, a 60 percent loan-to-value ratio and a 25-year amortization schedule. Chicago-based Parker Restaurant …

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FinanceNew YorkNewsRetailers

G.S. Wilcox Arranges $18 Million Loan for Refinancing of Shopping Center on Long Island

by Alex Tostado

Plainview, N.Y. — G.S. Wilcox, an intermediary based in Northern New Jersey, has provided an $18 million loan for the refinancing of a 118,000-square-foot shopping center in the Long Island hamlet of Plainview. The loan was structured with a 15-year term and a 30-year amortization schedule. David Fryer of G.S. Wilcox arranged the loan through one of the firm’s correspondent lenders on behalf of the undisclosed borrower.

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Southeast retail
FinanceGrocery-anchoredIndustry ContentRestaurantsRetailersVideosWebinar

Webinar: Will Southeast Retail Investment Activity Bounce Back in 2021?

by Sarah Daniels

Shopping Center Business and Southeast Real Estate Business hosted “Southeast Retail Investment Outlook — Will Retail Investment Activity Bounce Back in 2021?” A panel of retail experts covered topics like the lending atmosphere, impacts of e-commerce and tenant types likely to expand or contract. Buyer pool shifts, seller considerations in regards to timing and the outlook for grocery-anchored spaces are all reviewed and considered. Plus, how might the presidential and congressional elections alter investment activity in 2021 for the Southeast’s top retail markets? Register and listen to learn from a panel of retail professionals …

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FinanceGeorgiaNewsRetailers

Red Oak Financial Provides $9.7 Million Refinancing Loan for Shopping Center in Metro Atlanta

by Alex Tostado

Roswell, Ga. — Red Oak Financial has provided a $9.7 million refinancing loan for Village Festival Shopping Center, a 56,921-square-foot retail center in Roswell. Proceeds from the two-year bridge loan will be used to renovate the property, which sits on seven acres at 10930 Crabapple Road, 25 miles north of downtown Atlanta. The borrower and owner, Phoenix Ten Properties LLC, will introduce shopping, dining and event options at the property. A timeline for renovations was not disclosed. Gary Bechtel of Red Oak Financial originated the loan on behalf of the …

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