PEBB, Sagamore Hill Secure $18.8 Million Refinancing for Soundview Marketplace on Long Island

Port Washington, N.Y. — A joint venture between PEBB Enterprises and Sagamore Hill Partners has secured $18.8 million for the refinancing of Soundview Marketplace, a 188,109-square-foot retail center located in Port Washington on Long Island. Deutsche Bank AG is providing the loan to the joint venture, which acquired the property in December 2020. The financing will include a $15.8 million initial advance, as well as $3 million allocated for future funding of capital improvements and leasing costs. Built in 1962 and 1977, the center comprises four buildings situated on 11 acres. Tenants at the property include Target, T.J. Maxx, Walgreens, West Marine, Five Below, F45 and Ace Hardware. Starbucks Coffee, Crumbl Cookies, GNC, Eden Nail Spa and Woof Gang also recently signed leases totaling 10,793 square feet at the center.