COHEN SECURES $12 MILLION LOAN FOR RETAIL ACQUISITION

CEDAR RAPIDS, IOWA — Cohen Financial has secured $12 million in debt financing for the acquisition of Collins Road Square, a 168,563-square-foot retail center located at 1400 Twixt Town Rd. in Cedar Rapids. The non-recourse, interest-only loan is for a term of 3 years with extension options, as well as leasing, tenant improvement and capital expenditure reserves. The loan was financed with a 75 percent loan-to-value ratio at 3 percent over the 30-day LIBOR rate. The borrower is a joint venture between San Francisco-based Trinity Property Group and Baltimore-based Alex Brown Realty.