IPA Arranges $25.2 Million Acquisition Financing for Kroger-Anchored Properties in Indiana, Georgia

by Hayden Spiess

Indianapolis and Riverdale, Ga. — Marcus & Millichap’s IPA Capital Markets division has arranged $25.2 million in financing for the acquisition of Linwood Square and Merchants Square. The retail centers are anchored by Kroger and located in Indianapolis and Riverdale, Georgia, respectively. Sunny Sajnani and Duke Dennis of Marcus & Millichap arranged the financing through two separate, undisclosed banks on behalf of the borrower, Essential Growth Properties (EGP). Financing was secured in the form of five-year loans. The loan for Linwood Square is floating rate with an interest-only period of 12 months, and the loan for Merchants Square is fixed rate with an interest-only period of 18 months.

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