{"id":1004142978,"date":"2016-04-27T23:34:07","date_gmt":"2016-04-28T07:34:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004142978"},"modified":"2020-05-10T22:10:21","modified_gmt":"2020-05-11T06:10:21","slug":"pontus-capital-secures-109m-loan-for-national-retail-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pontus-capital-secures-109m-loan-for-national-retail-portfolio\/","title":{"rendered":"Pontus Capital Secures $109M Loan for National Retail Portfolio"},"content":{"rendered":"<p>By Keith Loria, Contributing Editor<\/p>\n<div id=\"attachment_1004142979\" style=\"width: 195px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/keithsss.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004142979\" data-attachment-id=\"1004142979\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/pontus-capital-secures-109m-loan-for-national-retail-portfolio\/keithsss\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/keithsss.png\" data-orig-size=\"185,165\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"keithsss\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/keithsss.png?w=185\" class=\"wp-image-1004142979 size-full\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/keithsss.png\" alt=\"Michael Press, Pontus Capital\" width=\"185\" height=\"165\" \/><\/a><p id=\"caption-attachment-1004142979\" class=\"wp-caption-text\">Michael Press, Pontus Capital<\/p><\/div>\n<p><strong>San Diego<\/strong>\u2014<a href=\"https:\/\/www.pontuscapital.com\/\" rel=\"nofollow\" target=\"_blank\">Pontus Capital<\/a> has received $109 million in <a href=\"https:\/\/www.commercialsearch.com\/news\/finance\/\" target=\"_blank\">acquisition financing<\/a> for a <a href=\"https:\/\/www.commercialsearch.com\/news\/retail\/\" target=\"_blank\">retail portfolio<\/a> totaling 61 triple-net-leased properties throughout the eastern U.S. and Northern California.<\/p>\n<p>The retail portfolio consists of 19 national and regional credit tenants, including leading financial institutions such as BB&amp;T, Regions Bank, SunTrust Bank, Wells Fargo Bank, Bank of America and Fifth Third Bank.<\/p>\n<p>\u201cWe are very pleased to close on this diverse portfolio of quality assets leased primarily to investment grade financial institutions,\u201d Michael Press, Pontus managing partner, said in a prepared release. \u201cThe seller required a portfolio sale and closing certainty. We are delighted to successfully meet both seller requirements, particularly in light of the extreme volatility in capital markets at the time of our closing.\u201d<\/p>\n<p><a href=\"https:\/\/www.hfflp.com\/\" rel=\"nofollow\" target=\"_blank\">HFF<\/a> secured the floating-rate loan for the borrower, which covered 27 branches in Florida, 8 each in California and North Carolina, 7 in Georgia, 4 each in South Carolina and Virginia, 2 in New Jersey and 1 in Arkansas.<\/p>\n<p>\u201cThis deal closed at a time when the secondary market for floating rate loans became very illiquid,\u201d Jordan Angel, HFF director who led the debt placement team, said in a prepared release. \u201cPontus\u2019 reputation as a top operator in the net lease space along with HFF\u2019s capital relationships helped to get this deal financed.\u201d<\/p>\n<p>According to a statement on Pontus\u2019 website, after a number of false starts with other parties, the seller, a large institutional REIT, selected Pontus based upon its ability and certainty to close on a complicated and structured transaction that involved defeasance of four separate CMBS loans and some shorter term and unoccupied leased properties.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HFF managed to secure a $109 million acquisition loan for Pontus Capital to purchase a 61-asset retail portfolio in the Eastern U.S. and Northern California.<\/p>\n","protected":false},"author":451,"featured_media":1004142979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21825,21783,23891,21742,21749],"tags":[],"class_list":["post-1004142978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-finance","category-investment","category-national","category-latest","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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