Glimcher Realty Trust (614-621-9000) has completed the refinancing of its maturing $74.7 million bridge loan facility for its operating partnership Glimcher Properties Limited Partnership. The new debt is made up of four permanent mortgages totaling $12.1 million at a fixed rate of 7.49% that mature in 2011 and a $61.7 million bridge loan on a floating rate note with the initial rate set at 9.76% maturing in 2003.

Capital Lease Funding (212-217-6300) has a 10-year loan program that provides for full credit tenant lease leverage with debt service coverage as low as 1.003 X and LTV up to 95%. The program offers similar rates to its 20-year fully amortizing loan but the borrower carries a balloon balance of approximately 60% of the initial fully leveraged loan amount to refinance. The program is available to owners with credit tenants rated "BBB-" or better.

Gerald Stevens Inc. (954-713-5000) reached an agreement in principle with Bank America to increase it debtor-in-possession credit facility to $11.5 million. The 260-unit chain of floral specialty retail stores is under chapter 11 reorganization and the increase in funding will allow the company to meet its requirements until November.

L.J. Melody & Company (713-787-1920) has consolidated its loan servicing organization with GE Capital Real Estate and will do business under the GEMSA banner. Joseph Beggins former CEO of GE Capital Loan Services Inc. will take the helm of the newly formed limited partnership. The company services loans in excess of $50 billion. GE Capital’s web based 24/7 borrower and investor information system will be integrated into the company as well.

A.C. Moore Arts & Crafts (856-228-6700) closed on a $50 million revolving credit agreement that doubles the company’s previous $25 million facility which was due to mature in April 2002. The lending group is led by KeyBank and First Union National Bank and will bear interest that will vary between LIBOR plus 150 points and LIBOR plus 200 points and matures in August 2004. The loan arrangement will provide resources for store openings planned for the next three years.

Greenwich Capital Financial Products Inc. (203-625-2700) arranged $16 million in refinancing for the 357 128 sq.ft. Lakeshore Marketplace in Norton Shores MI. The facility has a 10-year term at a fixed rate of 7.647% amortized over 30 years. The center’s owner Horizon Group Properties Inc. will use the loan to pay down the principal on a series of mortgages held by CDC Mortgage Capital Inc. The CDC notes have been extended to July 2002 at a rate of 395 basis points over LIBOR.

Marabella Commercial Finance (760-741-0800) is offering a financing program for non-recourse loans of over $400 000 on net leased retail and restaurant properties. Ten-year terms at fixed rates between 7.15% and 7.35% are available for Walgreen’s and CVS tenanted buildings with amortization over 30 years. Jack in the Box and IHOP tenanted buildings are offered six 10 or 15-year terms with a 20 year amortization rate and a fixed rate between 7.95% and 8.5%.

AMI Capital Inc. (301-654-0033) arranged a $1.75 million acquisition loan for the 14 884 sq.ft. Osco Drug Store in Tucson AZ. The loan has a 20-year term at a rate of 7.875%. The LTV is 71% and the debt service coverage is 1.2. AMI Capital’s portfolio has grown to more than $2.1 billion and the company has seven regional offices.

Westfield America Inc. (310-478-4456) secured an $800 million commercial mortgage-backed securities led by UBS Warburg and Lehman.