IPA Arranges $11.5 Million Acquisition Financing for Retail Center in Illinois

by Hayden Spiess

Champaign, Ill. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged an $11.5 million loan for the acquisition of Baytowne Shoppes & Square, a retail center located in Champaign. PetSmart, Staples, Ulta Beauty, Dollar Tree, Party City, Rally House and Citi Trends anchor the property, which was 99 percent leased at the time of financing. Adam Mengacci of IPA secured the ten-year commercial mortgage-backed security (CMBS) financing on behalf of the undisclosed borrower. 

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