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Sources Of Financing
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Sources Of Financing Pacific Coast Capital Partners, LLC (866-722-7552) and its affiliate Redwood Capital Finance Co. announced the close of a $10.9 million loan to Petrovich Development Co. for the redevelopment of a 60,000 sq.ft. mixed-use retail/residential center in Sacramento, CA.
Suburban Capital Markets, Inc. (301-340-2266) wrote a first mortgage loan to Parcel Seven Associates, LLC. The proceeds of the loan were for refinancing of the “H” Street Connection Shopping Center in Washington, DC. Suburban Capital Markets, Inc. originated and underwrote the loan, which was subsequently sold for future securitization. The fixed-rate mortgage has a 10-year maturity with an amortization of 30 years and is priced at the fixed interest rate spread over the 10-year U.S. Treasury bond index. The mortgage is non-recourse to the borrower. The “H” Street Connection is a 37,991 sq.ft. center situated on a land area of 1.998 acres in northeast Washington, DC. The center is anchored by Rite Aid and Lot Stores and includes a Bank of America pad site. The center is currently 100% occupied.
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