(Read more on the debt and equitymarkets.)
JACKSONVILLE, FL-The 850,000-sf River City Marketplace retailcenter on Duval Road has received $110 million in permanentfinancing. Terms of the financing, which was used to repay existingdebt including a construction loan, include a 10-year interest onlyloan at a fixed rate of 5.43%.
The financing was arranged by CBRE/Melody director MichaelStrober, who is located in Tampa, through J.P. Morgan. Strobertells GlobeSt.com that the borrower was Farmington Hills, MI-basedRamco Gershenson, the developer of the center.
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