FINANCE BRIEFS
May 1, 2008 12:00 PM
Metropolitan Capital Advisors arranged a $29 million mortgage and a $3.25 million mezzanine loan for the acquisition of three Kroger-anchored shopping centers in Ft. Worth, Plano and Crowley, Texas.
SkyVest Capital LLC, a joint venture of Sky Development Inc. and SunVest Communities LLC, will launch a $300 million real estate fund. The fund will invest in distressed residential, commercial and retail projects in Florida, Nevada, Arizona, California, New York, Texas, North Carolina and South Carolina, both directly and through the acquisition of debt.
Vornado Realty Trust closed on a $290 million construction loan for the redevelopment of a 950,000-sq.-ft. portion of Bergen Town Center in Paramus, N.J. The interest-only loan features a rate of LIBOR plus 1.50%.
Wrightwood Capital provided a $26 million senior loan and an $8 million mezzanine loan for the construction of the Shops at Sycamore Creek, a 93,000-sq.-ft. grocery-anchored shopping center in Corona, Calif.
David Cronheim Mortgage Corp. arranged a $30 million loan for Southgate Shopping Center, a 139,827-sq.-ft. neighborhood shopping center in Massapequa Park, N.Y. The loan featured a 7-year term. Andrew Stewart and Dev Morris negotiated this transaction.
Q10 | Triad Capital Advisors, Inc. arranged a $14.9 million loan for Big Bend Crossing, a 16-acre retail project in Crestwood, Mo. Joe Monteleone negotiated this transaction.
iCap Realty Advisors arranged a $7.5 million permanent loan for a 45,000-sq.-ft. commercial loft building in New York City. The loan featured a 5.75% rate and a five-year term. Harout Ghazarian negotiated this transaction.
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