(Read more on the debt and equity markets.)

HAMILTON, OH-Crimson Capital LLC has acquired the 90,997-sf Shoppes at Hamilton retail center, anchored by a Kroger supermarket, for about $11.5 million, according to sources. The corporation received assistance in the purchase by a $9 million, 10-year, fixed rate loan by GE Real Estate.

The property at 1450 S. Erie Boulevard was built in 2006. The center is 91% occupied, with nine national and regional tenants, in this densely developed community, said a GE spokesman in a statement. The spokesman could not be reached for comment, and a seller was not named. Joel Traut and Jill McEntegart with GE structured the loan.

Stephen Malley with Crimson said in a statement that the local area has become turbulent in the past couple months. “(GE) delivered on our behalf despite the significant shift in the debt capital markets that occurred before we had the rate locked,” said Malley in the statement.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.