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Pearl City, Hawaii — Sonnenblick-Eichner Co. has secured a $59 million first mortgage debt to refinance Pearl City Gateway, a 146,205-square-foot shopping center located roughly 12 miles outside of Honolulu in Pearl City, Hawaii.
The 10-year, fixed-rate financing was secured on behalf of the borrower, Robertson Properties Group, through New York Life Real Estate Investors. The loan carries an interest rate of less than 4 percent with a 30-year amortization schedule. Pearl City Gateway was fully leased at the time of sale to tenants including Babies R Us, TJ Maxx, Petco, McDonalds, AT&T, Domino’s and Subway.