Sources Of Financing
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Sources Of Financing


Wachovia Securities (713-278-4311) arranged financing of $34 million for The Galleria, a mixed-use center located in New York, NY. The company also arranged financing of $16.3 million for College Grove Center in San Diego, CA.

L.J. Melody & Co. (602-735-1777) arranged permanent fixed-rate financing of $29.5 million for a portfolio of two retail properties in Scottsdale, AZ, including Seville Retail Center, an 89,000 sq.ft. center and La Mirada, a 33,000 sq.ft. center.

Dominion Mortgage Corp. (310-477-3041) arranged financing of $5.28 million for a retail portfolio of anchored and non-anchored centers in SC. The company arranges financing for the following types of properties: hotels and motels, industrial buildings, estate properties, long-term care facilities, medical facilities, mixed-use properties, mobile home parks, multi-family apartments, office buildings, retail buildings, single-tenant properties and special purpose buildings.

Kimco Realty Corp. (516-869-7190) obtained a $500 million revolving line of credit, expandable up to $600 million, to replace its existing $250 million revolving facility, which is scheduled to expire in August. Borrowings under the facility bear interest at the LIBOR, plus 55 basis points. The facility also contains a competitive bidding feature, which may allow the company to borrow at a reduced interest rate.

LaSalle Retail Finance (703-925-5959) provided a $13 million, three-year, revolving credit facility to rue21, inc. to provide for the company’s financing needs as it emerges from bankruptcy. rue21, inc. is a specialty retailer of juniors and young men’s apparel, operating 170 stores throughout 37 states.

Cohen Financial (312-346-5680) secured $19.725 million in debt placements for two retail properties: The first property, LaGrange Crossing, is a 67,809 sq.ft. power center located at the intersection of Route 34 and LaGrange Road in LaGrange, IL. The company secured $14.25 million refinance debt placement for the borrower. Terms of the 10-year, non-recourse loan include an amortization of 30 years, 80% LTV and pricing based on the 10-year U.S. Treasury plus 10-year Swap Spread. The second property is a 26,192 sq.ft. Osco-anchored neighborhood retail property located at the intersection of Crawford and Devon Streets in Lincolnwood, IL. The company secured $5.475 million in debt placement for the borrower. Terms of the 10-year, non-recourse loan include an amortization of 25 years, 75% LTV and pricing based on the 10-year U.S. Treasury rate of 5.95% with a spread of 2%.