Crow Holdings Capital Partners LLC purchased Scottsdale Horizon, a 154,766-sq.-ft. neighborhood shopping center in Scottsdale, Ariz., from Hart Realty Advisers for $38 million.
The center was completed in 1999 and is currently 95 percent leased. Safeway and CVS anchor the property.
Ryan Schubert, Michael Hackett and Dan Wald, of Cassidy Turley, represented the seller in the transaction. Torrey Briegel and Cameron Warren, of Phoenix Commercial Advisors, also assisted in the deal.
Alison Co. Helps Refinance Creekside Village Shopping Center in California With $12.8M Loan
The Alison Co. arranged a $12.8 million permanent loan for Creekside Village Shopping Center in Calabasas, Calif. A life insurance company provided funding for the loan, which features a 10-year term and a fixed 3.6 percent interest rate. The loan was structured with a forward rate lock. Owners of the center used proceeds from the transaction to pay off a maturing CMBS loan and to cover closing costs.
Creekside Village Shopping Center is currently 100 percent occupied. Albertsons anchors the property. Other tenants include Starbucks, GNC and Cleaners.
Shaun Moothart, of The Alison Co., negotiated this transaction.
Meridian Capital Arranges CMBS Loan for Walgreens and Sports Authority Stores
Meridian Capital Group LLC negotiated an $11.7 million refinancing for four triple net leased retail properties in Southeastern and Southwestern U.S. on behalf of Gary Solomon & Co. Citigroup Global Markets Inc. provided the 10-year CMBS loan.
The properties, which total 88,328 sq. ft. of space, are located in Pasadena and Marshall, Texas, Little Rock, Ark. and Palm Beach Gardens, Fla. They are occupied by Walgreens and Sports Authority.
Ronnie Levine and Jack Coopersmith, of Meridian Capital, negotiated this transaction.
Westwood Sells Safeway-Anchored Center to TNP in $11.5M Transaction
Westwood Financial Corp. sold Willow Run Shopping Center, a 95,791-sq.-ft. grocery-anchored shopping center in Denver, Colo., to TNP Acquisitions LLC for $11.5 million.
The property was completed in 1999 and is currently 88 percent leased. Safeway anchors the center. Other tenants include Willow Run Liquors, McDonald’s, the Dollar Store, Advance America, Allstate Insurance, Subway and Dojo Martial Arts.
Patrick Devereaux and Jason Schmidt, of Cushman & Wakefield, represented the seller in the transaction.
Other Notable Deals
Aztec Group negotiated a $2 million loan for a PNC Bank under construction in Davie, Fla. and a $2.7 million loan for a Walgreens pharmacy in Neptune Beach. Fla. The loan for PNC Bank, arranged on behalf of Gold Capital LLC, features a 10-year term, a fixed interest rate and a line of credit facility. The Walgreens loan, arranged on behalf of Tan Capital LLC, features a five-year term and a full recourse facility. Howard Taft and Charles Penan, of Aztec Group, negotiated these transactions.
Golden Corral sold a 10,020-sq.-ft. former Golden Corral restaurant building at South Square Shopping Center in Durham, N.C. to State Employees’ Credit Union for $2 million. Charlie Coyne and Barry Bowling, of CBRE|Raleigh, represented the seller in the transaction.