Real Estate Weekly
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Debt & Equity Retail

Uber drives $24M mall refi

Uber Capital Group has sourced a $24.05 million debt refinancing of the acquisition loan for the purchase of the Logan Valley Mall.

The two-story, 785,000 s/f property is located at 5580 Goods Lane in Altoona, the largest city of Blair County, Pennsylvania.

Led by president and founder Joel J. Gorjian, Uber Capital Group represented a national commercial real estate investment group in securing the loan from a regional bank based in Pennsylvania.

The loan was negotiated at a fixed 4.75% rate with a 25 year amortization.

In addition to the Logan Valley Mall deal, Uber’s recent transactions included the $11 million acquisition loan for the Cache Valley Mall in Logan, Utah; the $7 million acquisition loan for the Conestoga Mall in Grand Island, NE; the $14 million acquisition loan for The Shops At Ithaca Mall in Ithaca, NY; the refinancing of the Alameda Shopping Center in Tulsa, OK.

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