Glimcher Properties Limited Partnership (614-621-9000) the operating partnership of Glimcher Realty Trust completed the refinancing of a maturing $130 million mortgage secured by the Lloyd Center in Portland OR. With the closing of the transaction Glimcher completed the refinancing of all major 2001 debt maturities. The new debt consists of a $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 obtained 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% during the initial term of the loan.

Financial Associate Enterprises (540-343-4767) has lenders with $250 000 to $900 million for funding projects acquisition development purchase and investment loans. Mortgages are available at fixed and adjustable rates to borrowers with excellent credit. Collateral is required and the funding timeframe is 30 days to 60 days.

Cohen Financial (713-626-7490) secured $3.5 million in debt placements for two unanchored retail properties in TX through its Houston TX office. About $2 million in debt placement was secured on behalf of a private investor for South Lamar Square a 19 505 sq.ft. unanchored retail center in Austin TX. Located at 1509 South Lamar Boulevard the center’s major tenants are Starbucks Coffee and Dominos Pizza. Terms of the 10-year nonrecourse loan with carveouts include a 25-year amortization schedule 75% LTV with pricing based on the Prime Index. A private developer borrowed $1.5 million in debt placement for Town West Center in Houston TX. The center is located at the intersection of Westheimer Street and Kirby Street and its major tenant is Avalon Diner. Terms of the 10-year fully amortized nonrecourse loan with carveouts include a 50% LTV with pricing based on the 10-year U.S. Treasury Index.

Holliday Fenoglio Fowler LP (214-265-0880) arranged $4.1 million in financing for a group of five restaurant pad sites located adjacent to Interstate 20 in Arlington TX. The 10-year fixed-rate loan was arranged on behalf of Windstar Land Partners III through American United Life. The sites are situated on 6.8 acres at the entrance to the Highlands Shopping Center and are 100% leased to restaurant chains.