Sources of Financing
[ Home ] [ Up ] [ Home Retailers Expanding Nationwide ] [ Who's Opening & Where ] [ Buyers & Sellers ] [ New Construction ] [ Food retailers Expanding Nationwide ] [ Sources of Financing ] [ Lease Signings ] [ Real Estate Professional Making the News ] [ Exclusives ] [ Lead Sheet ] [ Space Place ]

 

Sources of Financing

Glimcher Realty Trust (614-621-9000) completed mortgage financing on four community centers. The projects include Audubon Village, a 120,849 sq.ft. center in Henderson, KY; Chillicothe Plaza, a 97,271 sq.ft. center in Chillicothe, OH; Liberty Plaza, a 58,700 sq.ft. center in Morristown, TN and Prestonsburg Village Center, a 175,347 sq.ft. center in Prestonsburg, KY.

Marabella Commercial Finance, Inc. (760-741-0800) closed a $4,050,000 mortgage with a fixed income rate of 6.85% for a Walgreen Pharmacy.

Cohen Financial (312-346-5680) has secured $30.35 million in debt placements for Granville Corners in Oxford, NC and Sycamore Commons in Charlotte, NC. The company secured $6.9 million for Sycamore Commons, which is located at 333 New Rochelle Avenue. The company also secured $46.35 million in debt replacements for the following retail properties in IL: a 24,500 sq.ft. retail property at 260 East Rollins Road in Round Lake Beach, IL; a 184,414 sq.ft. retail property located at 8355 West Belmont Avenue in River Grove, IL and a retail portfolio for Walgreens.

The Glen Town Center (312-988-1270) closed its tax increment financing. The $250 million, 1,100,000 sq.ft. retail, entertainment and mixed-use center is located in Glenview, IL. As part of the close of financing, the Village of Glenview awarded $76.5 million in tax-increment financing to OliverMcMillan and transferred ownership of 45 acres of land to OliverMcMillan Glenview LLC, developer of The Glen Town Center. The remaining financing for The Glen Town Center is coming from a $56 million loan with Fremont Investment and Loan.

Wachovia Securities (713-278-4317) closed a $49 million deal with Chino Spectrum Towne Center in Chino, CA and a $5.2 million deal with Riverpoint Shopping Center in Clarksville, TN.

Prime Retail, Inc. (410-234-8333) recently modified to the existing terms of the mezzanine loan it previously obtained from FRIT PRT Lending LLC and Greenwich Capital Financial Products, Inc. in December 2002. The outstanding principal balance of the mezzanine loan at the time of the modification was $31.1 million.

Alliance Limited (713-789-7425) finds and closes fixed and variable rate mortgages, construction loans, bridge loans and equity mezzanine financing for office, industrial, retail, lodging, land restaurants, gas stations, car wash, multifamily projects and commercial deals.