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Pottstown, Pa. — Deerwood Real Estate Capital has closed a $15.5 million loan to finance the acquisition and redevelopment of an enclosed mall in Pottstown.
The property features 700,000 square feet of retail space. The loan, provided by a balance sheet lender, was structured with a construction facility to accommodate upgrades and repositioning. Abe Katz and Aaron Rosenfeld of Deerwood negotiated the financing for the undisclosed borrower.