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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
























 


 
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