Conway, Ark. — Uber Capital Group LLC has secured $9.8 million in acquisition financing for the $12 million purchase of Conway Town Centre in Conway, Arkansas.
The borrower was a private commercial real estate investment group based in New York City. A regional Arkansas bank provided the loan at a fixed rate of 5.89 percent, with a 10-year term and 20-year amortization schedule. Hibbett Sports and JC Penney anchor the 207,557-square-foot shopping center, located 32 miles north of Little Rock, Arkansas. The property was 96 percent leased at the time of the sale.