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Sources Of Financing
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Sources Of Financing Northmarq Capital (972-788-3421) arranged $116.5 million in bridge financing for a 25-property portfolio of shopping centers located throughout 11 states totaling 2.3 million sq.ft.
AEI Fund Management, Inc. (800-328-3519) provides financing for freestanding, NNN-leased restaurant and retail property.
Commerce Bank (888-751-9000) offers revolving construction loans, construction/interim mortgages, bridge loans, commercial lending and commercial term loans.
Wellington Mortgage Capital (310-641-5711) arranged financing on the following properties: $3.225 million for Flamingo Swenson Plaza, a 24,300 sq.ft. center located in Las Vegas, NV; $13.4 million for Great American Plaza, a 72,400 sq.ft. center located in Las Vegas, NV; $14.5 million for Glasshouse Square, a 101,900 sq.ft. center located in San Diego, CA and $5.1 million for Madison Retail Plaza, a 30,619 sq.ft. center located in Indio, CA.
Suburban Capital Markets, Inc. (301-340-2266) wrote a first mortgage loan to Parcel Seven Associates, LLC. The proceeds of the loan were for refinancing of the “H” Street Connection Shopping Center in Washington, DC. Suburban Capital Markets, Inc. originated and underwrote the loan, which was subsequently sold for future securitization. The fixed-rate mortgage has a 10-year maturity with an amortization of 30 years and is priced at the fixed interest rate spread over the 10-year U.S. Treasury bond index. The mortgage is non-recourse to the borrower. The “H” Street Connection is a 37,991 sq.ft. center situated on a land area of 1.998 acres in northeast Washington, DC.
Ackman-Ziff Real Estate Group, LLC (212-697-3333) arranged a 100% non-recourse first mortgage, mezzanine loan and joint venture equity investment on behalf of Torrington Improvements, LLC for the acquisition of Torrington Commons Shopping Center located in Torrington, CT. The 129,000 sq.ft. supermarket-anchored center is exclusively managed by DLC Management Corp. Ackman-Ziff structured a 90% first mortgage, a 5% mezzanine loan and a 5% joint venture equity investment.
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