MILWAUKEE — Walker & Dunlop Inc. has originated two CMBS loans totaling $6.9 million for Fox Bay Cinema Grill and Oriental Theater in Milwaukee. The loans were structured with 10-year terms for New Land Enterprises. Both loans were secured by two mixed-use assets, in which the lead tenant at each property is an independent movie theater. Fox Bay Cinema Grill is a 48,391-square-foot independent movie theater that offers “dinner and a movie” by serving guests a meal while they view their selected film. The Oriental Theater, now part of the Landmark Theater group, has been operating continuously since 1927. The Landmark Theater group has grown to 48 theaters and 224 screens in 21 markets. Oriental Theater’s movies focus on independent films. Additionally, a bowling alley and a bar are tenants in the basement of this property. Rob Meister led the Walker & Dunlop team that secured the refinancing for both theaters. New Land Enterprises develops, owns and manages condominiums, apartments and commercial real estate.
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