2006 Transactions
Tremont Structures $34,400,000 Retail Financing
David
Ross, a Managing Director in Tremont's Boston office, structured
$34,400,000 of acquisition capital. This included a $6,000,000
mezzanine loan and a $28,400,000 senior mortgage to assist
his client with the $36,000,000 purchase of the Central
Mall in Salina, KS. Tremont capped the financing with a
Tremont sponsored mezzanine loan and placed the senior debt
with one of its capital partners.
The Central Mall is the only mall within
its Regional Trade Area in north-central Kansas, which encompasses
14 counties. The mall is anchored by Dillards, JCPenney,
and Sears and boasts many national in-line tenants, as well.
The mall encompasses approximately 486,000 square feet of
retail space, including anchors, in-line space, outparcels
and kiosks. The property was approximately 90% occupied
at closing. Ross noted, "The Central Mall is a very
vibrant and attractive property. Our client recognized the
upside of optimizing the rent roll and tenant mix, as well
as the potential of the developable outparcels."
For additional information on this transaction,
please contact:
David Ross
Managing Director
Email: dross@tremontcapital.com
Phone: 617.867.0700 x773
