L.J. Melody had used two transactions to secure the financing. A$1.98-million loan has been finalized for the 14,873-sf retailbuilding and amortized over 30 years at a 8.26% interest rate. Inaddition, $3.4 million has been secured for a 24,454-sf. officebuilding for 30 years at 8.4% interest. The project had been 80%occupied at the time of the funding.
L.J. Melody has provided the funding through its CB RichardEllis Investors' Commercial Mortgage Fund V. Cimarron InvestmentProperties Co., a regional development and management firm, isdeveloping the project.
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