New York, March 1, 2004: Winter & Company Commercial Real Estate Finance has successfully arranged a $34,000,000 mortgage representing 100% of the acquisition and development cost for a 185,000 SF shopping center shadow-anchored by Wal-Mart and Sam’s Club in Chandler (Phoenix area), Arizona. The center includes 175,000 SF of in-line store space and 10,000 SF of buildings on pads. The property will be developed and operated by an active real estate firm in the Phoenix area.

The loan, which is structured as a $34,000,000 revolver, allowed the borrowers to close on a 58-acre site, of which 19 acres will be sold to Wal-Mart and 15 acres to Sam’s Club. Development of 185,000 SF of other stores will occur on the remaining acreage.

Henry Berliss and Gerald Drogin of Winter & Company Commercial Real Estate Finance arranged the non-participating loan with a portfolio construction lender. The loan closed on January 28, 2004,
accommodating a tight time-of-the-essence time frame.

Winter & Company specializes in providing advisory services as well as both institutional and private mortgages to commercial real estate owners and professionals throughout the New York Metropolitan area and nationwide. It’s affiliate, W Financial is a direct private bridge and mezzanine lender providing short-term, special situation financing.

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