Sources of Financing
[ Home ] [ Up ] [ Sports-Related Retailers Expanding Nationwide ] [ Who's Opening & Where ] [ Buyers & Sellers ] [ Lease Signings ] [ Real Estate Professionals Making the News ] [ New Construction ] [ Exclusives ] [ Closings ] [ Sources of Financing ] [ Canadian Chains Looking For Sites ] [ Convenience Stores Expanding Nationwide ] [ Lead Sheet ] [ Food Retailers Expanding Nationwide ] [ Space Place ]

 

Sources of Financing

Legg Mason Real Estate Services (215-496-3000) arranged a $2 million mortgage for Seaman’s Kids in Queens, NY. Financing was based on a 15-year term with an uneven amortization schedule. The company also arranged a $2.1 million mortgage for Jericho Crest Shopping Center in Commack, NY. Financing was based on a 10-year term with an amortization of 25 years. The company also arranged financing of $5.6 million for BJ’s Wholesale Club located at the intersection of Whittier and Newbury Street in Framingham, MA. The building contains 115,600 sq.ft. and is situated on an 11-acre site.

Capital Lease Funding (212-217-6300) allocated $50 million to provide long-term, self-amortizing credit tenant lease financing for Walgreens drug stores. In addition to providing long-term CTL financing for Walgreens, the company continues to offer borrowers its proprietary max leverage 10-year CTL financing program for Walgreens properties. By offering both options, long-term and 10-year CTL loans, borrowers can customize their financing to best meet their tax, investment return and estate planning requirements.

GMAC Commercial Mortgage (215-328-3383) provided $32.5 million in floating-rate interim acquisition financing for The Prime Outlets of Puerto Rico, a retail center located 35 miles west of San Juan, Puerto Rico. The 176,327 sq.ft. center is tenanted by GAP, Tommy Hilfiger, Polo Ralph Lauren, Liz Claiborne, Brooks Brothers, Timberland, Levi’s and Reebok.

Taubman Centers (248-258-7367) arranged $135 million in fixed-rate mortgage financing on Sunvalley in Concord, CA and a $192 million fixed-rate mortgage financing on International Plaza in Tampa, FL. The loan on Sunvalley carries a 10-year term and an all-interest rate of 5.71%. The financing on International Plaza has a five-year term and bears interest at an all-in rate of 4.27%.

Mirabella Commercial Finance, Inc. (760-741-0800) arranged $2.023 million in financing for KinderCare Preschool. The interest rate is for 6.25%, fixed for five years and then reset at 3% over the five year CMT with amortization of 25 years, a term of 10 years and LTV of 70%. The company also arranges permanent financing for Walgreens/CVS drug stores with a fixed rate of 5.86% to 6.11%, for a term of 10 years, amortization of 30 years, LTV of 75% to 80% and DSCR of 115%.