(Read more on the debt and equitymarkets.)
SURPRISE, AZ-A replacement developer for a prized retail siteadjacent to Surprise Stadium has lined up $10.85 million inacquisition financing. Bell Retail A&B LLC is buying the17.07-acre site from Crestone Cos., a San Diego developer thatscrapped its plans for a 104,000-sf shopping center and 13-screencinema after the theater operator pulled out.
Scripps Investments & Loans, a private lender in La Jolla,CA, has arranged a bridge loan to facilitate the acquisition. Thetransaction was structured as a nine-month loan with threethree-month extension options.
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