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Matthews, N.C. — JPMorgan Chase Bank NA has provided the $60 million refinancing of Windsor Square Shopping Center, a 661,156-square-foot retail power center in Matthews, a suburb of Charlotte.
Completed in 1987 and renovated in 2014, Windsor Square was 96 percent leased at the time of sale to tenants such as Sam’s Club, hh gregg, J.C. Penney, PetSmart, Tuesday Morning, Kohl’s, Lifetime Fitness, Ross Dress for Less, Outback Steakhouse, DSW, Shoe Carnival and Mattress Firm.
Chris Drew, Brent Bowman and Brian Gaswirth of HFF arranged the 10-year, fixed-rate loan through JPMorgan Chase. The borrower, Sterling Organization, used the loan to pay off a maturing CMBS loan.