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.