Sources of Financing
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Sources of Financing

Kimco Realty Corp. (516-869-9000) is providing preferred equity and mezzanine debt financing to developers and owners of retail centers. The company is offering up to $50 million of equity. Potential candidates include power and neighborhood centers and single tenant space. Kimco Realty offers a 10% coupon return and residual participation from 5% to 50%.

Holliday Fenoglio Fowler (732-512-2300) arranged financing for a new 108,000 sq.ft. Home Depot in Clifton Park, NY. The $2.4 million financing was secured with Fortis Advisors, a life insurance company.

Inland Mortgage Corp. (630-218-8000) closed a $4.3 million bridge loan for the acquisition of the 47% occupied 48,100 sq.ft. Desert Inn-Pecos Shopping Center in Las Vegas, NV. The company was able to fund the loan at 95% LTC and 75% of the property’s stabilized value. The loan has an 18-month term with two six-month extensions.

Silo Financial (203-869-3999) is providing bridge loans, business loans and hard money loans for property. The company will provide loan amounts of $200,000 and more with six month to 24-month terms. Silo Financial will fund up to 70% of the loan value. Interest rates are 13% with flexible prepayment and 3% origination fee.

Bayview Financial (800-457-5104) offers commercial real estate loans on most income-producing property types. Programs include fixed and adjustable rate fully amortizing loans, bridge loans and rehab loans.

Realty Income (760-741-2111) provides cash transaction-no debt contingencies, 100% financing, negotiable financial covenants, flexible lease terms and conditions, and charges no fees or transaction costs for sub-leaseback financing.

David Cronheim Mortgage Corp. (973-635-6800) arranged for the $20.5 million refinancing of Hadley Shopping Center in South Plainfield, NJ. The loan has a 10-year term with an amortization of 30 years. The 251,464 sq.ft. shopping center is located at the intersection of Stelton Road and Corporate Boulevard. The center is cotenanted by Kohl’s, A&P Supermarket, CVS, Steak & Ale, Petland Discount, Dollar Tree, Dress Barn, Joyce Leslie and KayBee Toys.

Martin Capital Group (270-354-6394) is offering a finance program with a minimum loan of $2 million for Eckerd drug store portfolios. The loan must have a 10-year term with an amortization of 25 years. The deal has a DSCR of 1.25. The maximum LTV is 75%.