Colliers Arranges $21.5M Refinancing of Shopping Center in Memphis

MEMPHIS, TENN. — Colliers International has arranged the $21.5 million refinancing of Poplar Plaza, a 351,419-square-foot shopping center in Memphis. A 85,000-square-foot Kroger anchors the center, which comprises 50 tenants, five restaurants and a 40,000-square-foot fitness center. The property is currently 95.4 percent leased to tenants such as Petco, Old Navy and Dollar Tree. Jeff Black of Colliers International’s Boston office secured the 10-year, fixed-rate loan through Prudential Mortgage Capital Co. on behalf of the borrower, an affiliate of Boston-based Finard Properties LLC.