REBusinessOnline

CBRE MELODY ARRANGES $73.7 MILLION IN FINANCING FOR THREE RETAIL PROPERTIES

COLUMBUS, OHIO, AND GLEN ELLYN, ILL. — The Tampa office of CBRE Melody has arranged $73.7 million in financing for three retail properties located in Ohio and Illinois. Michael Strober of CBRE Melody arranged the financing on behalf of Farmington Hills, Mich.-based Ramco-Gershenson Properties Trust. Principal Real Estate Investors was the lender in each transaction.
In Columbus, a $27.6 million loan was arranged for the Shops on Lane Avenue, a 177,092-square-foot retail center located at 1555-1735 W. Lane Ave. The loan has a fixed rate of 5.95 percent, interest only, with a 5-year term. Also in Columbus, a $21.6 million loan was arranged for Olentangy Plaza, a 253,330-square-foot community shopping center located at 734-889 Bethel Rd. The loan has a 5.88 percent fixed rate with a 10-year term, and the initial 5 years interest only. Finally, in Glen Ellyn, a $24.5 million loan was arranged for Market Plaza, a 162,705-square-foot retail center located at 535-613 Roosevelt Rd. The loan carries a 5.88 percent interest rate over a 10-year term with the first 5 years interest only.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties