Stark Enterprises Inc. of Woodmere, OH took out 80%loan-to-value, first-mortgage financing against the almost-always,fully leased 130-acre retail fortress at 6751-99 Strip Ave. NW. AGoldman Sachs contact can't discuss the borrower's plans for thecapital infusion. He did tell GlobeSt.com that none of the majorleases will be rolling this year although the development iscelebrating its 10th birthday. The anchor line-up includes a149,429-sf Wal-Mart, 130,497-sf Lowe's Home Improvement Warehouse,90,584-sf Giant Eagle, 15-screen Cinemark USA Inc., 42,296-sf BestBuy and 32,946-sf Marshall's.

James Leonard and Lindee Flater in the Cleveland office forMinneapolis-based Pinnacle Financial Group Inc. arranged thefinancing for Robert Stark, CEO of Stark Enterprises and sponsorfor the transaction. The Goldman Sachs contact says sponsorship,location and cash flow set up the winning formula to get thelender's nod for the fixed-rate loan.

"The Strip is an exceptionally successful development and wecouldn't have been more pleased with the ease of the refinance withthe Goldman Sachs team," Stark says in a press release. "Theycompleted the transaction flawlessly."