Sources Of Financing
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Sources Of Financing

ShopKo Stores (920-497-2211) obtained a $600 million credit facility with Fleet Retail Finance, Inc. secured by inventory and receivables. The facility replaces the company’s existing smaller arrangement. The 396-unit chain trades as ShopKo and Pamida in the midstates and west.

Tanger Factory Outlet Centers (336-292-3010) repayed at maturity $75 million of unsecured notes. The notes were taken at 8-and-3/4% and were retired by a $100 million, 9 and 1/8% unsecured note offering closed in February. The additional proceeds from the offering were used to retire a $20 million variable rate term loan.

Marabella Commercial Finance (760-741-0800) offers quick preliminary quotation for financing on single-tenant retail or restaurant properties. The fixed-rate non-recourse loans are available from $600,000 and up and feature low cost third party reports and legal fees. The company has worked with properties featuring tenants like CVS, Walgreens, Office Depot, 7-Eleven, Jack In The Box and IHOP. Assistance is offered through the entire loan process.