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Debt & Equity

Eastern Union Funding turns around retail center loan

In under 30 days, Eastern Union’s David Metzger and Nate Hyman arranged a $12.1 million loan for the acquisition of Town Center I, on behalf of a private ownership group based in South Florida.

The 75 percent occupied asset was purchased via auction. Located at 418 Town Center Place in Columbia, S.C., the 290,000 s/f open-air retail center is anchored by JCPenney. Town Center I offers a mix of nationally and locally owned merchants, restaurants and service providers.

It was developed as part of a larger lifestyle center called Village at Sandhill, which includes luxury condos and apartments, and additional retail.

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