{"id":1004295725,"date":"2019-02-04T10:12:46","date_gmt":"2019-02-04T18:12:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004295725"},"modified":"2022-03-03T02:12:17","modified_gmt":"2022-03-03T10:12:17","slug":"mn-retail-center-lands-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/","title":{"rendered":"MN Retail Center Lands Financing"},"content":{"rendered":"<div id=\"attachment_1004295728\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004295728\" data-attachment-id=\"1004295728\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/burnsville-market\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Adina Marcut&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1549020365&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;1&quot;}\" data-image-title=\"Burnsville Market\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg?w=800\" class=\"wp-image-1004295728 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg\" alt=\"Burnsville Market\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004295728\" class=\"wp-caption-text\">Burnsville Market<\/p><\/div>\n<p>HFF has arranged a $7 million, three-year loan for Burnsville Market, a more than 137,000-square-foot grocery-anchored retail center in Burnsville, Minn. The company worked on behalf of the borrower, Sterling Org., to secure the floating-rate bridge loan with RGA Reinsurance Co.<\/p>\n<p>The property is located at 1750 County Road 42 W., on approximately 16.5 acres along the retail corridor that serves the southern Minneapolis MSA. Within a 3-mile radius, more than 69,000 residents earn an average income of more than $87,000. Burnsville Market is anchored by Cub Foods, a supermarket chain with 77 stores in Minnesota and Illinois.<\/p>\n<p>Sterling Org. plans to redevelop the property. Senior Managing Director Chris Drew, Senior Director Nat Scarmazzi, Associate Matthew McCormack and Managing Director Jules Sherwood were part of the debt placement team that represented the borrower.<\/p>\n<p><em>\u201cThe Sterling Org. purchased the asset opportunistically and will begin to reposition the center to capitalize on the phenomenal market fundamentals and stellar demographics,\u201d <\/em>Scarmazzi said in a prepared statement.<em> \u201cRGA understands the market and, more importantly, the quality of the sponsorship, which allowed them to execute in a compressed closing timeline.\u201d<\/em><\/p>\n<p>The deal comes after HFF secured a <a href=\"https:\/\/www.commercialsearch.com\/news\/somera-road-buys-657-ksf-office-asset-in-mo\/\">$60.2 million loan for Somera Road Inc<\/a>.\u2019s acquisition of City Center Square.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The borrower will use the three-year, floating-rate loan secured by HFF to redevelop the 137,000-square-foot retail center, which is anchored by Cub Foods.<\/p>\n","protected":false},"author":2518,"featured_media":1004295728,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,13,36076,21742,21749],"tags":[32792,39218,36215],"class_list":["post-1004295725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-midwest","category-minneapolis-st-paul","category-latest","category-retail","tag-hff","tag-reinsurance-group-of-america","tag-sterling-organization"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>MN Retail Center Lands Financing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MN Retail Center Lands Financing\" \/>\n<meta property=\"og:description\" content=\"The borrower will use the three-year, floating-rate loan secured by HFF to redevelop the 137,000-square-foot retail center, which is anchored by Cub Foods.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-04T18:12:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T10:12:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Marcut\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mn-retail-center-lands-financing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mn-retail-center-lands-financing\\\/\"},\"author\":{\"name\":\"Adina Marcut\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/3373a7a57df47d560f02395793cecf2d\"},\"headline\":\"MN Retail Center Lands Financing\",\"datePublished\":\"2019-02-04T18:12:46+00:00\",\"dateModified\":\"2022-03-03T10:12:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mn-retail-center-lands-financing\\\/\"},\"wordCount\":216,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mn-retail-center-lands-financing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/02\\\/Burnsville-Market.jpg\",\"keywords\":[\"HFF\",\"Reinsurance Group of America\",\"Sterling Organization\"],\"articleSection\":[\"Finance\",\"Midwest\",\"Minneapolis-St Paul\",\"News\",\"Retail\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mn-retail-center-lands-financing\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mn-retail-center-lands-financing\\\/\",\"name\":\"MN Retail Center Lands Financing - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mn-retail-center-lands-financing\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mn-retail-center-lands-financing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/02\\\/Burnsville-Market.jpg\",\"datePublished\":\"2019-02-04T18:12:46+00:00\",\"dateModified\":\"2022-03-03T10:12:17+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/3373a7a57df47d560f02395793cecf2d\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mn-retail-center-lands-financing\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mn-retail-center-lands-financing\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mn-retail-center-lands-financing\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/02\\\/Burnsville-Market.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/02\\\/Burnsville-Market.jpg\",\"width\":800,\"height\":620},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/mn-retail-center-lands-financing\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"MN Retail Center Lands Financing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/3373a7a57df47d560f02395793cecf2d\",\"name\":\"Adina Marcut\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9e6a3eafcea51544427755b84fbb9360f088ba341340422a055c7a4cfc2bb748?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9e6a3eafcea51544427755b84fbb9360f088ba341340422a055c7a4cfc2bb748?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9e6a3eafcea51544427755b84fbb9360f088ba341340422a055c7a4cfc2bb748?s=96&d=mm&r=g\",\"caption\":\"Adina Marcut\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/adina-marcut\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"MN Retail Center Lands Financing - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/","og_locale":"en_US","og_type":"article","og_title":"MN Retail Center Lands Financing","og_description":"The borrower will use the three-year, floating-rate loan secured by HFF to redevelop the 137,000-square-foot retail center, which is anchored by Cub Foods.","og_url":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-02-04T18:12:46+00:00","article_modified_time":"2022-03-03T10:12:17+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg","type":"image\/jpeg"}],"author":"Adina Marcut","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/"},"author":{"name":"Adina Marcut","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/3373a7a57df47d560f02395793cecf2d"},"headline":"MN Retail Center Lands Financing","datePublished":"2019-02-04T18:12:46+00:00","dateModified":"2022-03-03T10:12:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/"},"wordCount":216,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg","keywords":["HFF","Reinsurance Group of America","Sterling Organization"],"articleSection":["Finance","Midwest","Minneapolis-St Paul","News","Retail"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/","url":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/","name":"MN Retail Center Lands Financing - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg","datePublished":"2019-02-04T18:12:46+00:00","dateModified":"2022-03-03T10:12:17+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/3373a7a57df47d560f02395793cecf2d"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg","width":800,"height":620},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/mn-retail-center-lands-financing\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"MN Retail Center Lands Financing"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/3373a7a57df47d560f02395793cecf2d","name":"Adina Marcut","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9e6a3eafcea51544427755b84fbb9360f088ba341340422a055c7a4cfc2bb748?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9e6a3eafcea51544427755b84fbb9360f088ba341340422a055c7a4cfc2bb748?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9e6a3eafcea51544427755b84fbb9360f088ba341340422a055c7a4cfc2bb748?s=96&d=mm&r=g","caption":"Adina Marcut"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/adina-marcut\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/Burnsville-Market.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004295725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/2518"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004295725"}],"version-history":[{"count":6,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004295725\/revisions"}],"predecessor-version":[{"id":1004296382,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004295725\/revisions\/1004296382"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004295728"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004295725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004295725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004295725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}