Sources of Financing
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Sources of Financing


Martin Capital Group (270-354-6394) is offering financing for income-producing properties leased to investment grade companies primarily rated BBB or above. Self-amortizing loan amounts are between $1.5 million to $300 million with 1.0x to 1.05x DSCR and 100% LTV maximum. Acceptable tenants include Albertson’s, Cingular Wireless, Costco, Federated Department Stores, Home Depot, Kohl’s, Lowe’s, McDonald’s, Safeway, 7-Eleven and Wal*Mart.

M. Robert Goldman & Company of New Jersey, Inc. (973-467-5151) arranged a $4.1 million permanent financing for a 72,625 sq.ft. freestanding retail building occupied by Macy’s East, Inc. located at 213 Route 38 West in Maple Shade, NJ. The loan will be used by the owner of the facility, Heritage I Oak Center, LLC, to refinance a short-term loan after the acquisition of the property. The 10-year loan was placed with a securitized lender. The company also arranged a $1.4 million permanent financing for two retail buildings located at 465 and 471 Mt. Pleasant Avenue in Livingston, NJ. The 10-year loan will be used by the owner of the property to pay off existing debt as well as for a 2,880 sq.ft. expansion of the building at 465 Mt. Pleasant Avenue. The buildings total 11,650 sq.ft. and are tenanted by High Country Sports, Inc., Dibrescia Corp. and Pip Printing, which has preleased the expansion space. The company also received commitments for more than $150 million from its new correspondence relationships with GE Financial Assurance and The Guardian Life Insurance Company for America.

Holliday Fenoglio Fowler, LP (214-265-0880) arranged a $37 million financing for the Fair City Mall, which is located at Main Street and Pickett Road in Fairfax, VA. Morgan Stanely Bank provided the 10-year, fixed-rate financing. The 392,100 sq.ft. mall is 100% leased. Tenants include Shopper Food Warehouse, Lifetime Fitness, Bed Bath & Beyond, Ross ‘Dress for Less’ and Marshalls.

Buchanan Street Partners (949-721-1414) arranged a $27.6 million financing for The Promenade, a 362,000 sq.ft. retail center located in Garden Grove, CA. The center is 92% leased and anchored by Regal Cinema, 24-Hour Fitness, Marshalls, Smart and Final, Pic N Save and Rite Aid. The financing has a 7.5%, 10-year fixed rate.