Cushman & Wakefield announced that it acted as exclusive advisor on three transactions totaling approximately $37 million in senior mortgage financing.
The firm’s Equity, Debt & Structured Finance team of Gideon Gil, Sridhar Vankayala and Alex Lapidus advised in the financings for the following transactions:
• The Simpson Organization in arranging approximately $14.4 million of senior financing for the acquisition of Westerre I & II. The property is a 163,290 s/f, class-A office portfolio, located in Innsbrook, Richmond, Virginia’s largest suburban office submarket.
The property is currently 92.1 percent occupied and has a diverse tenant mix providing predictable cashflows for the next several years. The financing was provided by PNC Bank.
• Dowel Charlotte, LLC in arranging $9.3 million for the refinancing of a stand-alone Dicks Sporting Goods retail store.
The property is 84,000 s/f, on a long-term net lease to Dicks Sporting Goods and is a shadow anchor outside of the SouthPark Mall in Charlotte, North Carolina. The financing was provided by Citigroup.
• Pembroke Hobson in arranging approximately $13.4 million of senior financing for their acquisition of 1000 Floral Vale.
The property is a 87,155 square foot, class-A office building located within the Floral Vale Professional Park in Yardley, Pennsylvania. The newly constructed property is primarily leased to two investment grade tenants. The financing was provided by Barclays.