OCALA, FL-A $102-million loan has been closed for the development and construction of the Ocala Shoppes. The borrower is the Ocala Shoppes LLC, one of whose principals is Tampa-based businessman Gordon Comer.
The loan was provided by Merrill Lynch Capital, a division of Merrill Lynch Business Financial Services Inc. The lender was represented by Miami-based Bilzin Sumberg attorneys Carey Stiss, a partner in the firm's real estate group, and Mary Margaret Langton, an associate in the real estate group.
When completed, Merrill Lynch's collateral will consist of a mortgage on approximately 420,000 sf of space and related parking spaces on 51 acres. The Merrill Lynch loan replaces a prior construction loan from Regions Bank. Mark Hausman, located in Merrill Lynch Capital's Atlanta office, is the loan officer who closed this transaction for Merrill Lynch Capital.
Ocala Shoppes will be anchored by Dillards, Old Navy, Barnes & Noble and Dicks Sporting Goods, among other tenants.
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