PHOENIX – Cohen, a national real estate capital services firm, today announced that its Phoenix office has secured $8.298 million to refinance a portfolio of 11 single tenant retail properties located in Arizona, Illinois, Indiana, Kansas, Louisiana, Michigan, Ohio, Texas and Virginia. The portfolio consists of eight Family Dollar stores, one Dollar General, one Advanced Auto Parts and one Aaron’s.
Brandon Harrington, Cohen Financial Managing Director in the Phoenix office, originated the fixed-rate, 10-year term loan with a 30-year amortization rate. The lender was Basis Investment Group, LLC, alender. The borrower is a Delaware Statutory Trust (DST).
“With the CMBS market loosening up, we were able to structure an extremely attractiveto maximize returns to the DST. This transaction is the third portfolio of this nature that we have closed for our client,” said Mr. Harrington. “Working with Basis Investment Group again enabled us to close the loan quickly and efficiently.”
About Cohen Financial
Cohen Financial is a diversified, commercial real estate capital services firm offering debt and equity placement, investment, loan administration and advisory services. The company was named top originator for specialty finance in the MBA 2012 Commercial Real Estate/Multifamily Finance Firms--Annual Origination Volumes report. Cohen Financial is well recognized as one of the nation's leading loan servicers and special servicers, as well as an originator of commercial and multifamily real estate financing. Known for finding innovative solutions to meet client needs, the company recently launched an Equity Practice to help borrowers complete their capital needs and an enhanced Capital Advisory and Valuation Services to assist financial institutions and investors to better evaluate assets and investment opportunities. Cohen Financial serves clients throughout the U.S. from offices in 10 major markets.