Financing Amount:
$1,681,190
Purpose:
Portfolio Refinance
Location:
Danville, Il
Capital Source:
CMBS + Mezzanine Debt
Transaction Details:

Tower Capital has arranged $70,000,000 to refinance a 14-property retail portfolio on behalf of Scottsdale-based Arciterra REIT.  The financing, which cross-collateralizes all of the assets, is structured as a $60,000,000 first position loan and a $10,000,000 mezzanine loan. This structure maximized loan proceeds to the borrower, equating to approximately 71% loan-to-value with two years interest only. The portfolio consists mostly of neighborhood strip centers,  many that are shadow anchored by Walmart. The properties are located in Louisiana, New York, Georgia, Colorado, Illinois, Indiana, Iowa, North Carolina, and Texas. These properties were all acquired as value-add opportunities and are now stabilized.

recent transactions

Scottsdale

15333 N. Pima Road
Suite 375
Scottsdale, AZ 85260
480-426-0560
AZ CMB-0928926

Dallas

2626 Cole Ave
Suite 300
Dallas, TX 75204
214-661-7633

Los Angeles

1801 Century Park East
24th & 25th Floors
Los Angeles, CA 90067
323-923-6032
CA DRE-02237859
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