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Sources of Financing
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Sources of Financing Meridian Capital (212-612-0165) arranged $40 million in financing for 10 properties in Brooklyn, NY totaling 150,040 sq.ft. The company negotiated a rate of 5.85% over a 10-year term. The loan will have a 10-year term with the first two years interest-only followed by a 30-year amortization. The deal closed in 35 days. Tenants include Duane Reade, Family Dollar and Pay/Half.
BMC Capital (212-526-7178) secured financing of $3.95 million in an acquisition loan for The Fountains, a retail and oOffice complex in Edmond, OK. The loan is 80% LTV and carries a 10-year fixed rate and is amortized over 30 years.
Tulepan Management, LLC (954-603-0455), on behalf of the Roberts Organization, arranged the financing of Westview Shoppes in Coral Springs, FL. The company, representing the owner, Westview Shoppes FLA, LLC, received long-term fixed-rate permanent financing from CountryWide Financial. Meridian Capital represented CountryWide Financial. The former Albertson’s was subdivided and is occupied now by Office Depot and Laser Fun Zone.
David Cronheim Mortgage Corp. (973-635-6800) secured financing of $12 million for Wading River Shopping Center, a 99,118 sq.ft. site in Wading River, NY. The loan carries a five-year term, amortized over 30 years at an interest of 4.97%. The center is anchored by King Kullen and CVS with 16 inline tenants. |