Finance
PAC Lands SC Shopping Center
The corporation acquired Irmo Station in Columbia, S.C., through a subsidiary, using a $10.7 million mortgage loan. A Kroger grocery store anchors the 99,000-square-foot retail asset.
Barry Slatt Appoints San Diego SVP
Bringing more than 20 years of industry experience, Thomas Cohen specializes in the placement of debt and the procurement of equity for commercial real estate projects nationwide.
Manhattan Retail Condo Commands $25M
Rubie’s Costume Co. purchased the 26,401-square-foot space that is currently fully occupied by New York City’s largest costume store. The sale included an additional $12.5 million loan assumption.
Center Core Buys Chicago-Area Office Campus
HFF closed on the transaction of Corporetum Office Campus VI, a two-building asset located West of Chicago in Lisle, Ill. It also secured a financing loan of $9.5 million for the buyer.
Kroger-Anchored Shopping Center Trades in Dallas
A partnership of Foundry Commercial and Stockbridge acquired Northview Plaza in Dallas from MDT Properties. The new owners plan to upgrade the 116,000-square-foot community shopping center.
InfiniPower Lands $54M for Upcoming Silicon Valley Marriott
CBRE secured construction financing for the development of a 147-key Marriott Residence Inn and a 114-key Fairfield Inn & Suites in North San Jose. InfiniPower Hospitality plans to develop the property on a vacant 6.7-acre site purchased in 2006.
First C-PACE Deal Closes in Washington, D.C.
The D.C. Baptist Convention will use the 30-year loan to fund energy-saving upgrades, saving the non-profit more than $800,000 during the life of the project.
Allianz Secures Naming Rights for MLS Stadium
The owners of the Minnesota United FC soccer team have chosen the global life insurance giant—which has local roots in the state—as the sponsor for the new $200 million arena in St. Paul.
Olive Hill Receives Creative Office Financing in LA
The $41 million loan was arranged by Newmark Realty Capital Inc. The LA-based firm acquired the property for $65.6 million last year with plans of upgrading it.
Small Balance Loan Breakdown with Hunt Mortgage’s Matthew Frank
The vice president of Hunt Mortgage’s Small Balance Loan Group explains how the Freddie Mac program can meet and adapt to the various needs of the borrower despite the tight lending environment.