(Read more on the debt and equitymarkets.)
PALM BEACH GARDENS, FL-The 204,911-sf Promenade Gardens EastPlaza on Alternate A1A has secured $21.5 million in permanentfinancing. The owner, Gardens East Plaza Ltd, has owned theproperty for the past 15 years.
The financing was arranged by Irvine, CA-based Johnson Capital'sFlorida office. The lender is a life insurance company/CMBSprovider. Johnson Capital managing director Greg Schecher tellsGlobeSt.com that he is originally arranged financing for theshopping center in 1998, a loan which was about to come due. The$21.5 million will replace the existing loan and pay for somecapital improvements to update the center.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 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.
