Sonnenblick-Eichner Co. Secures $59M Refinancing for Pearl City Gateway in Hawaii
PEARL CITY, HAWAII — Sonnenblick-Eichner Co. has secured a $59 million in first mortgage debt to refinance Pearl City Gateway, a 146,205-square-foot shopping center located roughly 12 miles outside of Honolulu in Pearl City.
The 10-year, fixed-rate financing was secured on behalf of the borrower, Robertson Properties Group, through New York Life Real Estate Investors. The loan carries an interest rate of less than 4 percent with a 30-year amortization schedule. Pearl City Gateway is fully leased to tenants including Babies R Us, TJ Maxx, Petco, McDonalds, AT&T, Domino’s and Subway.