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Sources of Financing
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Sources of Financing Cohen Financial (949-252-1672) secured an $89 million acquisition loan for Silver Creek Properties. The 46 shadow-anchored centers are located in 20 midwestern states and encompass more than 762,000 sq.ft. Cohen Financial offers debt and equity placement, investment brokerage, loan servicing and financial advisory services. The company also secured $25.5 million in senior debt acquisition for University Center. Terms of the 10-year acquisition loan include a 30-year amortization schedule and a 75 percent loan to value ratio. University Center is 100 percent occupied, has a GLA of 125,941 sq.ft. and is located at the intersection of Southwest 16th Street and Southwest 107th Avenue in Miami, FL. Current tenants include Walgreens, The Roxy Performing Arts Center and Gold’s Gym.
RJJ Investment Funding (760-294-8894) offers lending from $1 million to $1 billion for commercial and construction loans, bridge loans, equity partners, joint venture partners, re-financing, private lender funding from pension funds, insurance and angel groups and institutions. The company also specializes in procuring funds for financing the following: new construction costs, fully-developed projects ready to build, land acquisitions, project soft costs, site improvements and construction rehab.
Cronheim Mortgage Corp. (973-635-6800) secured financing of $15.85 million for Shadowwood Square, a 221,747 sq.ft. center located in Boca Raton, FL. The property is located at the intersection of U.S. 441 and Glades Road and is anchored by Walgreens, Bed Bath & Beyond, Borders, Regal Cinemas and Stein Mart. The loan was structured with a 15-year term amortized over 30 years and carried an interest rate priced at 95 basis points over the 13-year U.S. Treasury. The company also secured financing of $9.7 million for two retail properties in Poughkeepsie, NY on behalf of American International Group. For Poughkeepsie Plaza, $6.4 million was arranged on a 10-year term to amortize over 30 years. The 175,223 sq.ft. center is anchored by Marshalls and Modell’s and has over 44 tenants. The company also arranged $3.3 million for a 32,202 sq.ft. building tenanted by Petco. The loan has a five-year term and will amortize over 25 years.
Johnson Capital (949-660-1999) arranged the $5.625 million permanent loan for an Orange County based real estate investor through Deutsche Bank Mortgage Capital. The loan is secured by two, two-story buildings containing more than 16,000 sq.ft. of retail and office space in Laguna Beach, CA.
Marabella Commercial Finance (760-479-0800) closed on a permanent loan for a Jack In The Box. The borrower wanted to refinance into a fixed rate. The loan amount was $950,000 with a fixed rate of 6.48% with an amortization of 20 years and a term of 10 years.
Ackman-Ziff (212-697-3333) arranged the following transactions: $52.5 million for a land area of 2.14 acres in Chesterfield County, VA; $49 million in debt financing for a 53,200 sq.ft. space in Miami Beach, FL and $50 million for a hotel in Scottsdale, AZ.
Peach Plus Financial (770-649-6486) offers equity partnership for deals up to $75 million. The company is interested in the following projects: residential or commercial land redevelopment, shopping center renovation or construction, industrial building renovation or construction, condominium conversion and construction, convention center renovation or construction and hotel or motel renovation or construction. Deals are done nationwide.
Real Business Loans, LLC (800-516-7382) offers 100% commercial real estate financing. The program has been designed to deliver a flexible borrower the ability to finance value-added commercial real estate opportunities. It offers fast funding of highly leveraged mortgages from $200,000 and up and is open to negotiating flexible terms on properties located nationwide. The company offers acquisition, construction and renovation financing for apartments, retail, industrial, office and condominiums nationwide from $200,000 and up.
Commercial Defeasance, LLC (704-248-2609) structured and closed a $17.7 million defeasance transaction of behalf of WP Realty, Inc., a Bryn Mawr, PA-based real estate investment, development, leasing and management company. The defeased retail property, Lordens Plaza Shopping Center is a 148,000 sq.ft. center anchored by Shaw’s supermarket in Milford, NH. The defeasance enabled WP Realty, Inc. to refinance the property with Greenwich Capital for $26 million. |