PENSACOLA, FL—RCG Ventures is proving there'san appetite in the capital markets for North Floridaretail. The firm just closed on an $11.425 millionrefi on Village Oaks, a 165,851-square-foot neighborhoodshopping center in Pensacola, FL.
HFF placed the 10-year, fixed-rate senior loanwith Prudential Mortgage Capital Company for RCG.Greg Krafcik, a director with Prudential, led thetransaction.
"The CMBS market continues to be extremelycompetitive and sophisticated borrowers are negotiating marketleading terms and locking in highly attractive long-term assumablefinancing that will be an asset going forward,” HFF directorChris Drew tells GlobeSt.com. Drew worked with HFFreal estate analysts Whitaker Leonhardt andCecily Nazario on the loan placement.
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