Press Release brought to you by CBRE/New England

CBRE/NE Debt & Structured Finance Team Arranges $45M Financing for The Shoppes at Latham Circle, Latham, NY

08/21/2014

Thursday, August 21, 2014

 

 

CBRE/New England Contact:

Kara DeMichele

Tel: 617.912.7038

kara.demichele@cbre-ne.com

 

 

 

CBRE/NE Debt & Structured Finance Team Arranges $45M Financing for The Shoppes at Latham Circle, Latham, NY

Construction first mortgage financing obtained from M&T Bank

 

BOSTON (Aug. 21, 2014) — On behalf of owner Realty Financial Advisors and developer Grossman Development Group, CBRE/New England’s Debt & Structured Finance team recently secured construction first mortgage financing totaling $45 million from M&T Bank for The Shoppes at Latham Circle, a ±370,000 square foot, Super Walmart-anchored shopping center located at 800 New Loudon Road in Latham, New York. In addition to the 188,000 square foot Super Walmart, The Shoppes at Latham Circle will have a mix of lifestyle tenants including restaurant and fitness. The leasing of the shopping center is handled by CBRE/Grossman Retail Advisors.

 

The CBRE/NE Debt & Structured Finance team of Kyle Juszczyszyn, Senior Vice President/Partner, Carlos Febres-Mazzei, Senior Vice President, and Taylor Shepard, Client Services Associate, negotiated the transaction on behalf of the owner, Realty Financial Advisors.

 

“The integrated approach of the CBRE/New England Debt & Structured Finance team and CBRE/Grossman Retail Advisors was on display throughout The Shoppes at Latham Circle deal,” noted CBRE/NE’s Juszczyszyn. “Together, through the support of Realty Financial Advisors, Grossman Development Group and M&T Bank, we successfully executed the complete renovation and repositioning of a 660,000 square foot mall into a brand-new, vibrant shopping center. We look forward to building on this momentum with some of our upcoming transactions that will complement the current merchandising mix.”

 

CBRE Capital Markets is the leading provider of capital solutions and investment sales for the real estate investment community that leverages the strengths of CBRE, the world’s leading real estate services firm, with more than 350 offices in over 60 countries. The Boston office of CBRE that includes Juszczyszyn, Febres-Mazzei and Shepard has been active in placing hundreds of millions of dollars of debt and equity since the group’s formation in 2012.

 

 

 

About CBRE/New England

CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. Please visit our website at www.cbre-ne.com. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.

 

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08/21/2014 - 08:56

Source

CBRE/New England

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