GREENSBORO AND DURHAM, N.C. — Tom Goodsite of Prudential Mortgage Capital’s Atlanta office originated two fixed-rate, 5-year interest-only loans, totaling $115.7 million, on behalf of CBL & Associates, for the Starmount portfolio in Greensboro and Renaissance Center Phase II in Durham.
The Starmount portfolio secured $100 million in financing. The portfolio consists of Friendly Center, a 1-million-square-foot regional shopping mall, and six surrounding suburban office/bank buildings. The mall is anchored by Macy’s, Belk, Sears, Grande Cinema and Barnes & Noble.
Renaissance Center Phase II secured $15.7 million in financing. The property is a 150,200-square-foot shopping center anchored by Best Buy, Babies R’ Us and Old Navy, in addition to specialty shops, restaurants and second-floor office space.
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