2003 Transactions
Tremont Arranges $6,700,000
Financing for Minnesota Retail Center
The
Hartford office of Tremont Realty Capital arranged financing
for the refinance of Maplewood Town Center, an 83,965 square
foot retail center located in Maplewood, Minnesota.
Steve Henderson, a Senior Director with Tremont
Realty Capital, arranged the $6,700,000 loan, which was
funded through a regional bank. The five-year non-recourse
loan provided 80% loan to value with a floating interest
rate. The property was 96% occupied at the time of closing.
Major tenants include Best Buy and Franks Nursery. The borrower,
a national REIT, was seeking a floating rate deal with flexible
prepayment options. According to Henderson, "the lender
was extremely aggressive on rate and their closing process
was very borrower friendly."
For additional information on this transaction,
please contact:
Stephen Henderson
Senior Director
Email: shenderson@tremontcapital.com
Phone: 860.548.9289
