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HUNT VALLEY, MD-American International Group provided the acquisition funding in a transaction in which developer Greenberg Gibbons replaced its equity partner in the Hunt Valley Towne Centre. The loan, secured by Walker & Dunlop, was structured with an eight-year term. Walker & Dunlop’s J. Tyler Blue and Paul Wallace led the transaction.
 
Wallace declined to tell GlobeSt.com who the new equity partner is. The loan was underwritten on a low loan-to-value basis, he says. Also, it was  interest-only financing. “Because this is a class A, true destination retail center, it was an attractive loan for AIG to make,” he says.
 
AIG scaled back considerably from real estate lending market during the crash, but it has been increasing its presence in various markets for several months now. Wallace notes that while AIG was a strong partner with Walker & Dunlop before the crash, this is the first deal with it since that time period. “I would say they are now actively lending,” he says.
 
Hunt Valley Towne Centre is a 766,256-square-foot, open-air regional shopping center located along York Road. It is anchored by Wegman's Food Market. Other tenants include Chipotle, GameStop, Chico's, California Pizza Kitchen, Caribou Coffee, and M&T Bank. Wallace says it is 98% occupied.