2002 Transactions
Tremont Arranges $7,776,000
Financing for Linwood Square Shopping Center
Tremont Realty Capital, Inc. arranged the refinancing of
Linwood Square Shopping Center a 167,000 square foot grocery
anchored retail center located in Indianapolis, Indiana.
Steve Henderson, Senior Director with Tremont's
Hartford office arranged the non-recourse loan, which was
funded through a Midwest Bank to hold in their portfolio.
The 10-year loan provided for roughly 80% loan-to-value
with the ability to "earn-out" additional proceeds
with a near 7% interest rate. The property was 93% occupied
at the time of closing. Major tenants include Kroger, CVS,
AJ Wright (a new TJX brand), and the US Post Office. "The
borrower, a leading national REIT looked to Tremont to arrange
10- year, fixed rate financing, maximizing proceeds in an
arena other than the CMBS world, and once again we were
able to deliver for this client in a timely manner, overcoming
obstacles such as the original age of the center (1963)
and the particular neighborhood in Indianapolis which carried
some concerns," according to Steve Henderson.
For additional information on this transaction,
please contact:
Stephen Henderson
Senior Director
Email: shenderson@tremontcapital.com
Phone: 860.548.9289
