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Sources Of Financing
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Sources Of Financing AFC Realty Capital (212-245-2050) arranged $15.5 million in bridge financing for Wayne Towne Center, a 650,000 sq.ft. mall located near the intersection of Interstate 80 and Routes 46 and 23 in Wayne, NJ. The loan will be used for a complete renovation of the single-level facility, which is anchored by JCPenney and Fortunoff.
L.J. Melody & Co. (858-546-4662) arranged permanent fixed-rate financing of $200 million for Flatiron Crossing Mall, a 1.5 million sq.ft. super regional mall anchored by Nordstrom, Dillard’s, Foley’s and Lord & Taylor in Broomfield, CO. The company also arranged permanent financing of $23 million for the refinancing of Point at Wellington Green, a 133,149 sq.ft. center located in the Village of Wellington Green, FL. Terms of the fixed-rate financing include a 75% LTV, 10-year term and an amortization of 30 years. The center is anchored by L.A. Fitness and is 100% leased.
NorthMarq Capital (215-496-3097) arranged permanent mortgage financing of $8 million on behalf of Tedeschi Realty Corp. The loan is secured by a new, freestanding 59,054 sq.ft. Star Market, which is located at 18 Sisson Road at the intersection of Main Street in Harwich, MA. The site is situated on a land area of 15.81 acres. The company also arranged first mortgage financing of $6.6 million for The Vinyards Shopping Center, a 79,047 sq.ft. center located in Braselton, GA. The center is tenanted by Publix. Financing was based on a five-year term with an amortization of 30 years. The company also arranged financing of $5.1 million for West Boca Square, a 64,000 sq.ft. center located in Boca Raton, FL. Financing was based on a 10-year term with an amortization of 30 years. The center is tenanted by Chuck E. Cheese and Baby Super Store. The company also arranged refinancing of $4.25 million for Alafaya Village Shopping Center, a 39,447 sq.ft. center located in Orlando, FL. The center is shadow-anchored by Albertsons and is tenanted by Bio-Medical Applications, Dynasty Restaurant and Calico Jacks Restaurant. Financing was based on a 10-year term with an amortization of 30 years.
Commercial Funding Corp. (973-471-2229) offers loans for the following property types: retail, office, warehouse, bed & breakfast, self-storage, industrial, automotive, funeral homes, rooming houses, marinas, day care, hotel/motel, campground, restaurants and car washes. Loans range from $400,000 to $800,000.
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