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Sources Of Financing
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Sources Of Financing Suburban Capital Markets, Inc. (301-340-2266) provided $12.5 million for refinancing of a Kentucky Fried Chicken portfolio in NY. The company originated and underwrote the loans, which were cross-collaterized and cross defaulted, and subsequently sold for securitization. The fixed-rate mortgages have 10-year maturities, with 30-year amortizations and were priced at a fixed interest rate spread over the 10-year U.S. Treasury Bond Index. The mortgages are non-recourse to the borrowing entities.
Marabella Commercial Finance (760-741-0800) offers loans from $500,000 and up, as well as an amortization of 30 years and customized loan programs. The company recently financed the following transactions: $14.36 million for four Walgreens locations; $8.65 million for four CVS stores; $9 million for nine Jack-In-The-Box stores and $6 million for five 7-Eleven stores.
Cap Lease (212-217-6300) offers traditional long-term (15 to 25 years) self-amortizing credit loans and proprietary 10-year credit tenant loan options. The mezzanine loans provide borrowers incremental capital in excess of existing first mortgage loans.
AEI Fund Management, Inc. (800-328-3519) provides financing for freestanding, NNN-leased restaurant and retail property.
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.
Commerce Bank (888-751-9000) offers revolving construction loans, construction/interim mortgages, bridge loans, commercial lending and commercial term loans.
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. The center is anchored by Rite Aid and Lot Stores and includes a Bank of America pad site. The center is currently 100% occupied.
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