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ATLANTA-The local owner of North Decatur Square Shopping Center, North Decatur Square LLC, has obtained a $13.6-million, fixed-rate, 10-year, permanent mortgage at 6.9% interest, using a 30-year amortization. The mortgage has an 80% loan-to-value ratio.

The local office of Chicago-based iCap Realty Advisors arranged the financing, and Newark, NJ-based Prudential Mortgage Capital Co. provided the funds. Icap refused to identify the property’s owner.

North Decatur Square is a 136,282-sf, class-A shopping center located on 17.29 acres. Phase one was completed in 1999, and a second phase reached completion during 2000.

The center is anchored by a Kroger grocery and has 30 additional tenants. Kroger calls itself the country’s largest retail food company.

According to Alfie Means, principal of iCap’s Atlanta office, North Decatur Square is 98% leased.

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