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Natixis Lends $41,047,500 for 7-Property Retail Portfolio
Natixis Real Estate Capital LLC provided $41,047,500 of 10-year term fixed-rate CMBS financing to The Lightstone Group to refinance 25th Street Plaza, Easton, PA; Mountainville Shopping Plaza, Allentown, PA; Shillington Plaza, Reading, PA; New Smyrna Shopping Center, New Smyrna Beach, FL; Northside Mall, Dothan, AL; Martintown Shopping Center, North Augusta, SC; and King’s Fairground, Danville, VA. The loan was structured as three standalone mortgages to ensure that the borrower could maintain flexibility with each of the assets. The financing was arranged by David Robinov and Russell Shildkraut from The Ackman-Ziff Real Estate Group in New York.
The portfolio totals 1,058,131 square feet and is 88% occupied by 98 tenants. The anchor tenants include Home Depot, Belk, Carmike, PriceRite, Kmart, Petco and Tractor Supply.
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About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.4 billion, a Basel 3 CET1 Ratio(1) of 11.5% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in and including current financial year’s earnings and accrued dividend (based on a 60% pay-out).
Figures as at 30 September 2019.
