Sources Of Financing
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Sources Of Financing


Galaxy Investments (727-324-1112 Ext. 9179) has clients who are interested in funding commercial real estate projects located in the United States. For more information visit www.todaysmoney.com.

GMAC Commercial Mortgage Corp. (215-328-3383) arranged $5.7 million in fixed-rate financing for a Designer’s Court a retail center in Marlton NJ. The center which is 100% occupied is undergoing a $1 million renovation. The property is situated on 6.4 acres with 1 300 feet of frontage along NJ State Route 73. Designer’s Court L.P. the owner of the center was the borrower.

Delta Financial Services (317-328-2208) has $250 million available for immediate financing on anchored single-tenant and unanchored retail centers; auto care centers; auto dealerships; convenience stores; fitness centers; gas stations; mixed-use projects; movie theaters and regional malls. The company also has funding available for refinancing acquisition and construction loans.

The Argus Group (818-990-7200 Ext. 113) has loans for southern CA properties. Loans are available as low as 10% interest only.

AmeriVest LLC (877-969-8039) has entered an agreement to with Tower Capital Advisors to finance a $131 million portfolio of mixed-use properties located in five midwestern states.

Holliday Fenoglio Fowler L.P. (214-265-0880) arranged $16 million in financing for the 105 832 sq.ft. Greenlawn Crossing shopping center in Austin TX. Greenlawn Crossing is located at the intersection of Louis Henna Boulevard and Greenlawn Boulevard and is 96% leased. Tenants include HEB grocery store and Blockbuster Video. The 10-year fixed-rate financing was arranged on behalf of Endeavor Real Estate Group through Bank of America.

Glimcher Properties Limited Partnership (614-621-9000) completed the refinancing of a maturing $130 million mortgage that was secured by the Lloyd Center in Portland OR. The new debt consists of $130 million mortgage with an initial maturity of November 10 2003. The company has three one-year extension options available under the loan. The initial interest rate on the loan is 6.25%. The proceeds were used to repay a maturing $130 million mortgage on the property. The new variable rate loan bears interest at the greater of LIBOR plus 3.25% or 6.25%. In addition the company has acquired a LIBOR interest rate cap at 6.25%. The effective interest should be subject to a minimum rate of 6.25% and a maximum rate of 9.5% over the initial term of the loan.

Aries Capital (312-642-0100) is offering long term fixed-rate nonrecourse conduit loans with 70% to 80% LTV’s. The offer includes mezzanine financing for higher LTV’s of 85% to 90%. Interim loans with prepayment flexibility are available with net lease financing up to 100% LTV with BB or better credits. Also available are forward commitments portfolio loan pricing equity and construction loans.

Prime Retail Inc. (410-234-1750) completed a refinancing of a $32.5 million first-mortgage loan secured by the 274 000 sq.ft. Williamsburg Outlet Center in Williamsburg VA. The first-mortgage loan has a 10-year term requires monthly principal amortization based upon a 25-year schedule and bears interest at a fixed rate of 7.69%. The financing was provided by Prudential Mortgage Capital Company LLC.