ENGLEWOOD CLIFFS—Deerwood Real Estate Capital, a commercial mortgage brokerage and advisory firm, recently arranged financing for three retail leases totaling $10 million.
First, the firm closed on a $3.5 million loan for a Rite Aid in Monroeville, Penn. The non-recourse, fixed-rate loan provided the borrower with acquisition financing of 70 percent LTP for the 13,000 sq.-ft. single-tenant retail store and carries a 10-year term and 30-year amortization. The deal was arranged by Abe Katz, Joe Hercenberg, and Mark Silbersher.
Deerwood also closed on a $6.6 million loan that was cross-collateralized by two single-tenant local grocery stores. The 52,000-sq.-ft. grocery store is located in Palmer, Alaska and the 33,000 square-foot grocery is located in Beech Grove, IN. The loan carried a 10-year term with a 30-year amortization. The deal was arranged by David Rosenberg, Joe Hercenberg, and Mark Silbersher.
