Saturday, May 10, 2025
Read the Digital Magazines
Subscribe

Finance

FinanceMassachusettsNewsRetailers

Citizens Commercial Provides $435 Million Construction Loan for Boston Retail, Office Project

by Alex Tostado

Boston — Citizens Commercial Banking has provided a $435 million construction loan for a 500,000-square-foot office and retail project in Boston’s Seaport District. The new building at 111 Harbor Way will feature two floors of retail space and 15 floors of office space that Amazon will fully occupy. Construction of the project is scheduled for completion by 2021. The borrower, a partnership between locally based investment firm WS Development and Canada’s Public Sector Pension Investment Board, officially broke ground on the building May 28. The partnership is the lead developer …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsPennsylvaniaRetailers

JLL Arranges Financing for Leasehold Interest in 186,000-Square-Foot Retail, Office Building in Philadelphia

by Alex Tostado

Philadelphia — JLL’s Capital Markets group has arranged an undisclosed amount of permanent financing on behalf of Alliance Partners HSP, which owns the leasehold interest in the SoNo commercial building in Philadelphia. Located at 456 N. Fifth St., the 186,000-square-foot former warehouse property was fully leased at the time of the loan closing to tenants such as Yards Brewing Co. (70,000 square feet), the City of Philadelphia Archives Dept. (68,000 square feet) and Target (48,000 square feet). Tristate Capital Bank provided the loan to Alliance, which acquired the property in …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNew JerseyNewsRetailers

JLL Arranges $46.5 Million in Refinancing for Retail Power Center in Howell, New Jersey

by Alex Tostado

Howell, N.J. — JLL has arranged a $46.5 million loan for the refinancing of Greenleaf at Howell, a 290,000-square-foot power center in Howell, 30 miles east of Trenton. Aaron Appel, Jonathan Schwartz, Keith Kurland, Brett Rosenberg, Adam Schwartz and Brandon Krupetsky of JLL placed the debt through JPMorgan Chase on behalf of the borrower, Sun Equity Partners LLC. A B.J.’s Wholesale Club anchors the property, which is located at the intersection of U.S. Route 9 North and Lanes Mill Road. Approximately 87,000 people live within a three-mile radius of the …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsRetailersTexas

JLL Arranges $10.5 Million Loan for Refinancing of Retail Center in Lubbock

by Alex Tostado

Lubbock, Texas — JLL has arranged a $10.5 million loan for the refinancing of Rockridge Plaza, an 86,500-square-foot retail center located in the West Texas city of Lubbock. The property was 95 percent leased at the time of sale to a mix of national retailers and local businesses. Jimmy Board and Wes Wallace of JLL arranged the fixed-rate, nonrecourse loan through Deutsche Bank on behalf of the borrower, Graco Real Estate Development.

Continue Reading
0 FacebookTwitterLinkedinEmail
ColoradoFinanceMixed-useNews

Unico Properties Receives $10.2 Million for Refinancing of Mixed-Use Property in Denver

by Alex Tostado

Denver — Unico Properties has received $10.2 million in refinancing for 2nd and Clayton, a mixed-use office and retail property located in Denver’s Cherry Creek neighborhood. Unico Properties, a subsidiary of Unico Investment Group, used the proceeds to pay off an existing loan. Originally constructed in 1954, the asset comprises three buildings totaling 18,460 square feet of retail and office space. The properties are located at 2641, 2645, 2659 E. 2nd Ave. and 211 and 227 Clayton St. Tom Wilson and Leon McBroom of HFF arranged the six-year, fixed-rate loan …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentFinanceMixed-useNewsWashington DC

MRP Realty Receives $191.8 Million in Development Financing for Mixed-Use Project in Washington, D.C.

by Alex Tostado

Washington, D.C. — MRP Realty has received $191.8 million in development financing for Phase I of Bryant Street, a mixed-use project in northeast Washington, D.C. Phase I includes three mid-rise buildings comprising 487 multifamily units, a nine-screen Alamo Drafthouse Cinema and an additional 38,482 square feet of ground-floor retail space. At full buildout, the 13-acre project will feature 1,500 residential units, 250,000 square feet of retail space, 1.5 acres of green space and up to 2,000 parking spaces. The transit-oriented development will be located in the Edgewood neighborhood, near the …

Continue Reading
0 FacebookTwitterLinkedinEmail
Chichester quote: downside to low interest rate environment is risk of creating an asset bubble
Faris Lee InvestmentsFeaturesFinanceIndustry Content

The True Cost of Cheap Debt

by SCB Staff

Faris Lee’s Rick Chichester believes the U.S. economy may have a stiff price to pay for the low interest rate environment that has continued well after the recovery. Unemployment is low. Consumer confidence is high. The Dow is around 26,000, interest rates remain at historic lows, and the Federal Reserve has paused. America is in a low inflation rate environment, and things couldn’t be better. Right? Yes and no, says Richard Chichester. The president and CEO of real estate investment advisory firm Faris Lee believes there are pluses and minuses …

Continue Reading
0 FacebookTwitterLinkedinEmail
xteam-cornelius-2019-retail-activity-increasing
FinanceIndustry ContentRetail Insight

Investors, Lenders Adjust As Change Remains A Constant In The Retail Industry

by SCB Staff

— By Bryan Cornelius, President at X Team and Principal at Venture DFW Commercial — The debt market has recalibrated following four rate increases in 2018 and a recent cautionary pause by the Federal Reserve. The market is hoping to take advantage of the strength of the economy, the stability of inflation, and the forecast of no further rate increases and/or decreases by the Fed throughout the balance of 2019. The capital markets are firing on all cylinders, providing very compelling financing and refinancing options across all commercial property segments. …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNew JerseyNewsRetailers

Eastman Cos. Refinances 95,809-Square-Foot Retail Center in Livingston, New Jersey

by Alex Tostado

Livingston, N.J. — Eastman Cos. has refinanced The Shoppes at Livingston Circle, a 95,809-square-foot retail center in Livingston, New Jersey, an eastern suburb of Newark. Built in 1993 and anchored by German discount grocer Aldi, the property was 80 percent leased at the time of sale to tenants such as Olive Garden, Goldfish Swim and Club Pilates. Jon Mikula and Jim Cadranell of HFF placed the loan, which features a 12-year term and a fixed interest rate, on behalf of Eastman. The lender was not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceFloridaMixed-useNews

Dockerty Romer Arranges $53.1 Million Loan for Refinancing of Mixed-Use Asset in Miami’s Coconut Grove

by Alex Tostado

Miami — Dockerty Romer & Co. has arranged a $53.1 million permanent loan for the refinancing of Mayfair in the Grove, a three-story mixed-use asset in Miami’s Coconut Grove neighborhood spanning 281,066 square feet. Situated adjacent to the Mayfair Hotel & Spa, the property features office and retail space spread across three buildings. Mayfair in the Grove was 94.1 percent leased at the time of financing to tenants including Sony Music, Sapient Technologies, Regus and General Electric. Craig Romer and Chris Romer of Dockerty Romer, a RECA (Real Estate Capital …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts