Fairfield, Conn. — Cronheim Mortgage has arranged a $5.5 million loan for the refinancing of Fairfield Shopping Center, a 72,000-square-foot retail center located in Fairfield. Developed in 1955, the property was leased to tenants including Restoration Hardware Outlet, T-Mobile, The UPS Store, Village Bagels and HobbyTown USA at the time of financing. Andrew Stewart, Dev Morris and Allison Villamagna secured the loan through a portfolio lender on behalf of the borrower, Albert D. Phelps Inc.
Austin, Texas — JLL Capital Markets has secured acquisition financing for South Bend Center, a mixed-use property located in Austin. Built in 1984, the property totals 43,811 square feet across three buildings, with retail, flex warehouse, restaurant and medical office space. CW Sheehan and Peyton Ackerman of JLL arranged the financing on behalf of the borrower, Duncan Park Capital.
Hempstead, N.Y. — PCCP has provided a $36 million senior loan for the acquisition of The Hub Shopping Center, a retail center located in Hempstead on Long Island. Agus Holdings is the borrower. Tenants at the property, which totals 248,569 square feet, include The Home Depot, Stop & Shop, Old Navy and AT&T. The center was 99 percent leased at the time of sale.
Downingtown, Pa. — BWE has arranged $45 million in first mortgage financing for Brandywine Square Shopping Center, a 607,999-square-foot retail center located in Downingtown, roughly 40 miles outside Philadelphia. Kevin Hicks of BWE secured the financing through a life insurance company on behalf of the borrower, Allied Properties. Wegman’s anchors the property. Other tenants at the center include BJ’s Wholesale, Dick’s Sporting Goods, DSW, PetSmart, Regal Cinema and Best Buy.
Rochester, N.Y. — Red Oak Capital Holdings has provided an $8.6 million loan for the acquisition of Irondequoit Plaza, a 205,000-square-foot shopping center located in Rochester. Sky Capital is the borrower. Wegman’s anchors the center, which was developed in 1980. Other tenants at the property include Citizens Bank, Dollar Tree, Dunkin Donut and Big Lots. The center was most recently renovated in 2005. Sky Capital will use the loan from Red Oak to finance the $9.5 million purchase of a 123,479-square-foot non-anchored portion of the property. Sky Capital is purchasing the …
Walnut, Calif. — Majestic Realty Co. Capital Markets has completed the refinancing of two shopping centers located in Walnut, approximately 30 miles outside Los Angeles. PGIM Real Estate provided a $12.6 million loan for Snow Creek Village West Shopping Center and retired the existing debt on Snow Creek Village East Shopping Center. Developed by Majestic Realty Co. affiliates, the properties comprise a total 128,922 square feet of retail space. Current tenants at the centers include T.J. Maxx, HomeGoods, Aldi, Panera Bread, McDonalds, Starbucks Coffee and Applebee’s Grill + Bar.
Goodyear, Ariz. — Gantry has secured a $29.2 million loan for the refinancing of Goodyear Centerpointe, a retail center located in Goodyear, a western suburb of Phoenix. Tenants at the property, which totals 320,000 square feet, include Conn’s Appliances, EoS Fitness, Urban Air, Hobby Lobby, Turner’s Outdoorsman and Goodwill Industries. Braden Turnbull, Patrick Barkley, Chad Metzger and Alicia Sabanero of Gantry arranged the 20-year financing on behalf of the borrower, Haagen Co. A life insurance company provided the loan.
Robersonville, N.C. and West Chester, Ohio — Bernard Financial Group (BFG) has arranged a $5.5 million loan to finance a retail portfolio located in North Carolina and Ohio. Dan Duggan of BFG secured the financing through Symetra Life Insurance Co. on behalf of the borrower, an entity doing business as FND OHIO LLC & DGMKT IOWA LLC. The portfolio totals 85,957 square feet across two properties in Robersonville, North Carolina, and West Chester, Ohio.
Washington, D.C. — Gantry has secured a $22.3 million loan for the acquisition of Cityline at Tenley, a retail center located in Washington, D.C. Tenants at the property, which totals 89,000 square feet and is situated within a mixed-use development, include Target, Ace Hardware and Bank of America. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry arranged the seven-year, fixed-rate financing on behalf of the borrower, Lincoln Property Co. A life insurance company provided the loan.
Avon, Conn. — Cronheim Mortgage has arranged a $24 million loan for the permanent financing of Avon Marketplace, a 78,687-square-foot retail center located in Avon. Dev Morris, Andrew Stewart and Allison Villamagna secured the five-year loan on behalf of the borrower, an affiliate of David Adam Realty. Built in 1994, the property comprises two single-story buildings that were fully leased at the time of financing. Tenants at the center include Ulta Beauty, Athleta, LensCrafters, GAP Factory, New Balance, Starbucks Coffee, Verizon and The Orvis Co.