JACKSONVILLE, FL-Wells Fargo funded a $25 million, five-year,fixed rate loan to refinance two neighborhood malls here. AtlanticKernan and Marsh Landing attracted the lender with market-defyingoccupancy rates.
The loan was originated by Scott Bois, director of originationsfor Wells Fargo Real Estate Capital Markets. Wells Fargo declinedto disclose the interest rate.
“Both properties have consistently maintained a 90 percentoccupancy rate or better over the past couple of years—and therents have stayed strong,” Bois tells GlobeSt.com. “Both projectshave good demographics-based markets and have good operators.”
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