TOMS RIVER, NJ-Palisades Financial LLC, through its Palisades Regional Investment Fund, has provided $4 million of working capital to Phoenix Four Inc., owner of Seacourt Pavilion here. The funding is coming from Sea South Holding LLC.

Phoenix Four, a Nassau, Bahamas-based investment group of high net-worth individuals and investment funds, is currently repositioning the 242,159-sf shopping center. Existing tenants include Marshalls and LA Fitness, and the property also has pad sites approved for a 47,000-sf office building and an 11,000-sf retail building.

"Our investment fund has been active and successful in the retail sector," says William Procida, chairman of the Englewood Cliffs-based Palisades Financial. "This investment allows our investors to capitalize on a deal with significant upside potential and strong real estate fundamentals. More importantly, it is our third deal with Phoenix Four, which has been a longtime client."