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Sources of Financing
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Sources of Financing Aries Capital (708-488-1485) funded loans totaling $9.3 million for two Walgreens stores located in Las Vegas, NV. A $5 million loan was provided for a store located at 4771 West Craig Road. The 13,905 sq.ft. Walgreens is situated on a land area of 1.72 acres. The five-year loan has an amortization of 25 years and was funded at an interest rate of 5.52%. The LTV is 71%. The other transaction was for $4.3 million for a Walgreens located at 6001 Cheyenne Avenue. Situated on a land area of 1.62 acres, the building is 15,120 sq.ft. Terms of the loan are for five years with an amortization of 25 years at a 5.52% interest rate. The LTV was 80%.
Greenwich Capital (203-625-2700) provided Maxwell Properties a $28 million fixed-rate loan for Embry Village Shopping Center, a 220,000 sq.ft. center located in Atlanta, GA. The property is located at the intersection of Interstate 285 and Chamblee Tucker Road and was recently redeveloped. The center is currently anchored by Kroger, Eckerd, Wachovia Bank and Washington Mutual.
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