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KeyBank Secures $20.9M CMBS Loan for Retail Power Center in Metro New Orleans

Built in 2001, Centre at Westbank in Harvey, La., is fully leased to tenants such as Best Buy, Barnes & Noble, Michaels and Petco.

Built in 2001, Centre at Westbank in Harvey, La., is fully leased to tenants such as Best Buy, Barnes & Noble, Michaels and Petco.

HARVEY, LA. — KeyBank Real Estate Capital has secured a $20.9 million CMBS loan for the acquisition of Centre at Westbank, a 174,445-square-foot retail power center in Harvey, less than seven miles south of New Orleans. Built in 2001, the four-building property is fully leased to tenants such as Best Buy, Barnes & Noble, Michaels and Petco. Randy Martin of KeyBank arranged the 10-year loan with three years of interest-only payments and a 30-year amortization schedule.

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