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DevelopmentFinanceNewsRetailersTennessee

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

by Alex Tostado

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 …

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ConnecticutFinanceNewsRetailers

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

by Alex Tostado

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.

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FinanceIndianaMinnesotaNewsRetailers

NorthMarq Arranges $23.1 Million in Financing for Two Retail Properties in Minnesota, Indiana

by Alex Tostado

St. Louis Park, Minn. and Fishers, Ind. — NorthMarq has arranged two separate loans with different life insurance companies for two retail properties in Minnesota and Indiana. First, NorthMarq arranged an $18.3 million acquisition loan for Park Place Plaza in St. Louis Park. The 87,975-square-foot property consists of four multi-tenant retail buildings. The center was fully leased at the time of closing. Major tenants include PetSmart and Office Depot. The 10-year loan features a 25-year amortization schedule. The second loan totaled $4.8 million for the refinancing of Fishers Gateway Shops …

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FinanceFloridaNewsRetailers

Terra Receives $45 Million Refinancing Loan for Phase II of Shopping Center in South Florida

by Alex Tostado

Pembroke Pines, Fla. — Terra City Center Investments II LLC, an entity sponsored by development firm Terra, has received a $45 million refinancing loan for Phase II of Pines City Center in Pembroke Pines. First Bank of Florida provided the loan. Terra broke ground on Phase II last year and expects to complete the 150,000-square-foot project by the end of this year. Some of Phase II is complete, with 98 percent of the space leased to tenants including anchors Hobby Lobby and UFC Gym, as well as CoreLife Eatery, AT&T, …

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CaliforniaFinanceMixed-useNewsRetailers

Stockdale Capital Partners Secures $330 Million Construction Loan for The Campus at Horton in San Diego

by Alex Tostado

San Diego — Stockdale Capital Partners has closed on a $330 million loan with a group of funds managed by Alliance Bernstein to continue the redevelopment efforts at Horton Plaza in San Diego. Exterior construction is scheduled to begin soon with 600 to 800 construction workers expected on-site to build the mixed-use creative office and retail redevelopment. Stockdale Capital originally announced its redevelopment plans for Horton Plaza Mall in January. The Campus at Horton will include 700,000 square feet of creative office space and 300,000 square feet of retail space. The development …

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DevelopmentFinanceHawaiiNewsRetailers

George Smith Partners Secures $51.7 Million Construction Loan, $16.2 Million Mezzanine Debt for Niumalu Marketplace in Hawaii

by Alex Tostado

Kona, Hawaii — The Davies Group at Los Angeles-based George Smith Partners has arranged both a $51.7 million senior construction loan and $16.2 million in mezzanine debt for the ground-up development of Niumalu Marketplace, a shopping center in Kona. The borrower is Commercial Real Estate Development Enterprise (CREDE). Safeway will anchor the 204,275-square-foot retail property, which is slated for completion by fourth-quarter 2020. Malcolm Davies, Zachary Streit, Evan Kinne, Alexander Rossinsky, Rachael Lewis, Aiden Moran and Maxwell Shedlosky of George Smith Partners facilitated the transaction. Centennial Bank provided the construction …

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FinanceNewsRetailersTexas

NorthMarq Arranges $28.5 Million Loan for Refinancing of Houston Retail Asset

by Alex Tostado

Houston — NorthMarq has arranged a $28.5 million loan for the refinancing of Champions Forest Plaza, an 187,000-square-foot retail center in Houston. Originally built in the 1960s, the property was 92 percent leased at the time of the loan closing to tenants such as The Container Store, Gap, Ann Taylor, Starbucks and Jos. A. Bank. Matthew Franke, Ray Driver and Michael Borden of NorthMarq arranged the 15-year, fixed-rate loan with a 25-year amortization schedule through OneAmerica, an Indianapolis-based life insurance company. The borrower was Smithco, a locally based developer.

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FinanceIllinoisNewsRetailers

Associated Bank Provides $17.7 Million Loan for Land Acquisition, Construction of Shopping Center Near Chicago

by Alex Tostado

Glenview, Ill. — Associated Bank has provided a $17.7 million loan for the acquisition of land and development of a 62,540-square-foot shopping center in Glenview, about 20 miles northwest of Chicago. Known as Willows Crossing, the multi-tenant center will be located at the southwest corner of Willow and Pfingsten roads. Previously signed leases at the project include Mission BBQ, First Watch Café and an undisclosed 35,000-square-foot grocery tenant. Completion is slated for spring 2021. Daniel Barrins of Associated Bank managed the loan and closing on behalf of the borrower and …

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FinanceNewsOhioRetailers

SRS Arranges $9.6 Million Loan for Ground Lease Acquisition of Home Depot-Occupied Property in Ohio

by Alex Tostado

Cleveland Heights, Ohio — SRS Real Estate Partners has arranged a $9.6 million loan for the ground lease acquisition of a property occupied by Home Depot in Cleveland Heights, just east of Cleveland. Located at 3460 Mayfield Road, the property includes a 132,000-square-foot building and an 18,000-square-foot garden center. The sales price was $13.7 million. Ben Townsend and Matt Marlin of SRS arranged the nonrecourse, 10-year loan at a fixed interest rate of 3.65 percent. A California-based private investor was the borrower. An institutional lender provided the loan, which features …

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AlabamaFinanceNewsRetailers

JLL Arranges $14.6 Million Refinancing Loan for Retail Property in Dothan, Alabama

by Alex Tostado

Dothan, Ala. — JLL has arranged a $14.6 million refinancing loan for Shops on the Circle, a 182,547-square-foot retail property in Dothan. The property was 96 percent leased to tenants including T.J. Maxx, PetSmart, Big Lots, Old Navy, OfficeMax, Five Below and Shoe Carnival. Shops on the Circle is situated on 17 acres at 3500 Ross Clark Circle, about 20 miles from both the Georgia and Florida borders. Synovus Bank provided the non-recourse loan, which features a 35-month term, floating interest rate and two one-year extension options. The borrowers, RCG …

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