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Sources Of Financing
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Sources Of Financing 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.
Aries Capital (312-642-0100) arranged financing of $12.5 million for Canyon Portal, a mixed-use retail/hotel property located at 270-280 Highway 89A in northern Sedona, AZ. The 47,000 sq.ft. development is situated on a land area of 3.31 acres and has 25,000 sq.ft. of retail space and 40 newly-constructed hotel rooms. The loan was funded for a seven-year term with an amortization of 25 years at an interest rate of 4.75%. The LTV is 75%.
L.J. Melody & Co. (770-730-3679) arranged debt-permanent refinancing for Festival Plaza, a 108,118 sq.ft. center located at the intersection of Vaugh and Taylor Roads in Montgomery, AL. The center is anchored by a 16-screen Rave Motion Pictures movie theater and is tenanted by high-end specialty shops and restaurants.
Continental Real Estate Cos. (614-883-1050) closed on more than $177 million in financing transactions in recent months. The following is a list of some of those transactions: $43.875 million for The Streets of Tanasbourne located in Portland, OR; $24.8 million for The North Shore in Pittsburgh, PA; $19.5 million for Parkway Centre in Grove City, OH; $16 million for The Market at Lucent in Columbus, OH and $10.725 million for The Market at Clifty Crossing in Columbus, IN.
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