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AST LANSING, MI-Financial details have been released regardingthe recent sale of Hannah Plaza, a 72,764-sf shopping centeradjacent to Michigan State University. GlobeSt.com has learned thatthe buyer, Chicago-based R&D Katz Real Estate, LLC, obtained$12.2 million in acquisition financing to purchase the propertyfrom the Eyde Co., a private real estate holding company.
Terms of the loan include 80% loan-to-value and pricing based onthe 10-year US Treasury. Chicago-based Cohen Financial secured theloan for R&D's subsidiary, R&D Hannah Plaza, LLC. This wasthe first mid-Michigan acquisition for the company.
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