CBRE CAPITAL MARKETS RECAPITALIZES N.J. LOWE'S

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VOORHEES, N.J. — CB Richard Ellis (CBRE) Capital Markets has secured $12.6 million for the recapitalization of the Lowe's Home Improvement Warehouse located in Voorhees. The permanent loan is non recourse, self amortizing and carries a 5.47 percent interest rate. The lender is CTL Capital. The 168,382-square-foot Lowe's is located at 144 Route 73 North and is part of Cedar Hill Shopping Center. The property is subject to a ground lease. Enoch Lawrence and Rayna Karaivanov of CBRE Capital Markets arranged the transaction. The borrower's name was not disclosed.

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