Lightstone, the national real estate investor and developer, announced it has closed a 10-year, $41 million fixed rate commercial mortgage-backed securities (CMBS) financing through Natixis Real Estate Capital for seven shopping centers located in the state of Pennsylvania and in the Southeastern United States.
Photo by Tracy O/Flickr
The portfolio totals 862,559 s/f, with anchors such as Home Depot, Belk, Carmike Cinemas, Wakefern Supermarket, Petco, and Dollar Tree.
The financing was structured as three stand-alone mortgages, providing Lightstone with flexibility for each of the assets.
“We are pleased to partner with Natixis, a premier commercial real estate lender, on this portfolio,” said David Lichtenstein, chairman and CEO of Lightstone. “
“This financing demonstrates continued confidence in Lightstone and our ability to continually develop assets that add to our diverse portfolio.”
