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PRESS
RELEASE
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WINTER & COMPANY
COMMERCIAL REAL ESTATE
FINANCE closes a
$34,000,000 Shopping
Center Development
Loan for a 185,000
SF Center in Chandler,
Arizona Shadow-anchored
by Wal-Mart and Sam’s
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New
York: 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 a well-respected
shopping center developer in the
Phoenix area.
The loan, which is structured as a $34,000,000 revolver, allowed the borrowers
to close on the 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 nationwide. Its affiliate, W Financial is a direct private bridge and mezzanine lender providing short-term, special situation financing to developers, owners and investors. If you are an accredited investor and would like to learn more about investing in the Fund, visit PrivateMortgageInvestment.com
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