Kramont Realty Trust (610-825-7100) closed on a $100 million, three-year, senior secured, revolving credit facility and made an initial borrowing of $67.988 million. The maximum amount of the credit facility may be increased to $125 million under terms and conditions of the loan agreement. The facility refinances $56.8 million currently in a GMAC Commercial Mortgage Corp. facility, which would have matured during August, it lowers the blended interest rate from LIBOR plus 270 basis points in the GMAC facility to LIBOR plus 225 basis points in the Fleet facility and it refinances $4.3 million of maturing debt at the company’s NorthPark Center in Macon, GA. Selected terms and conditions of the facility include: interest rate of one month LIBOR plus a minimum of 175 basis points up to a maximum of 225 basis points, dependent upon corporate leverage, a three-year term and initially secured by first mortgages on 16 shopping centers in nine states.

Inland Mortgage Corp. (630-218-8000) recently closed a $6.78 million bridge loan for the acquisition and rehabilitation of the Sunnymead Town Center, a 160,783 sq.ft. center located at the intersection of Alessandro Avenue and Perris Boulevard in Moreno Valley, CA. The company was able to loan 87% of the total cost on a non-recourse basis. The property was less than 77% occupied at closing. The borrower, Cadence Capital, plans to spend more than $1 million renovating the center. The term is for 12 months.