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Sources Of Financing
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Sources Of Financing Florida Bond and Mortgage, Inc. (954-566-7485) arranged a $6 million permanent refinance, first mortgage loan on the Towne Plaza Shopping Center, a 75,804 sq.ft. center located at 525 Bay Isles Parkway in Longboat Key, FL.
Tremont Realty Capital (617-867-0700) structured an equity investment in the recapitalization of Parkway Pointe, a 195,562 sq.ft. center located in Atlanta, GA. The financing was for $8 million. The company also structured permanent debt for the $14.25 million refinancing of a 119,000 sq.ft. Kohl’s located in El Cajon, CA. The 10-year, non-recourse loan provided approximately 85% LTV with a 5.20% interest rate.
Aries Capital (708-488-1485) arranged financing of $4.2 million for a 15,158 sq.ft. Walgreens in Las Vegas, NV. The store is situated on a land area of 1.68 acres at 9034 South Eastern Avenue. The five-year loan was funded at an interest rate of 5.52% and has an amortization of 30 years.
Spence Hill Associates (571-641-3050) arranged construction and permanent financing of $5 million for Miller Place Commons, a center located at the intersection of Pipe Stave Hollow Road and Route 25 A in Miller Place, NY. The property is an existing 19,000 sq.ft. center that is being expanded via construction of an 11,000 sq.ft., freestanding CVS and a 2,000 sq.ft. Suffolk County Bank branch. Completion is slated for the Summer. In addition, the property features approximately four acres of additional land for future development. The loan is for 10 years at a fixed rate.
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