Keybank Secures $15.5 Million Loan for Pensacola Shopping Center

Pensacola, Fla. – Park Place Promenade was constructed in 2003-2004 and is comprised of five in-line buildings.

Pensacola, Fla. – KeyBank Real Estate Capital has secured a $15.5 million loan to refinance Park Place Promenade, a 172,086-square-foot retail center in Pensacola. The total collateral for the property is 83,902 square feet. Park Place Promenade was constructed in 2003-2004 and is comprised of five in-line buildings. The property has averaged above 91 percent occupancy since 2008. The unnamed borrower used the loan to pay off an existing CMBS loan that KeyBank originated in 2004.

  John Nelson

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