Deal of the Week: Grocery-Anchored Retail in Mesa, Arizona
Northpoint Shopping Center was built in 1987 and has 113,018 s.f. of net rentable area. The deal included a senior bridge loan with a construction draw. This loan funded the first of three acquisitions as a part of a 1031 exchange. While this property and the second of the three are in escrow and have certain closing dates, the third property has been a part of a litigation that may or may not be settled in time to qualify for the exchange. The solution was to put the equity component for the third property into the first property loan and make that money available for the third if and when it closes.
The post Deal of the Week: Grocery-Anchored Retail in Mesa, Arizona first appeared on The Crittenden Report.
The post Deal of the Week: Grocery-Anchored Retail in Mesa, Arizona appeared first on The Crittenden Report.
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