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Sources Of Financing
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Sources Of Financing Holliday Fenoglio Fowler (310-407-2100) arranged $7 million in acquisition financing for Geri-Towne Shopping Center, an 84,735 sq.ft. supermarket-anchored center located in Fairfield, CA. The three-year, adjustable-rate loan was through GMAC Commercial Mortgage. The center is located just west of Interstate 80 and Travis Boulevard. The 7.5-acre site has frontage on four different streets. The center is 98% occupied, anchored by Raley’s Supermarket and is tenanted by H&R Block, Subway and Patelco Credit Union. The company also arranged $50 million in refinancing for Araphoe Crossings, a 466,106 sq.ft. supermarket-anchored center located in Aurora, CO. The fixed-rate, ten-year permanent financing was through Bank of America CMBS Capital Markets. The center is situated on approximately 65 acres at the intersection of Araphoe Road and Parker Road. The center is 100% leased and is tenanted by King Soopers, Kohl’s, Borders, Old Navy, Ross, Marshalls, OfficeMax, Linens ‘n Things and a movie theater. Aries Capital (312-642-0100) arranged $3.3 million for Wood Stoves, Etc. in Lynnwood, WA. Wood Stoves specializes in stoves, grills, spas, patio and other related furniture and accessories. The building is situated on a land area of 2.52 acres at 16504 Highway 99. The 45,792 sq.ft. facility features 23,000 sq.ft. of retail and office space with a remaining 21,500 sq.ft. used for a warehouse. The 10-year fixed-rate loan has a 30-year amortization with a 5.8% interest rate. The LTV was 75%. Cohen Financial (312-346-5680) secured $33.491 million in debt placements for properties located in MI. The transaction consists of 510,367 square feet of properties at various locations throughout the Midwest. The company secured $12.071 million in refinance debt placement for the borrower. Terms of the one-year non-recourse loan include a 65% LTV and pricing based on the three-month LIBOR. |