Kathy Anderson Secures $20 Million Acquisition CRE Loan for North Carolina Retail Center
Kathy Anderson Secures $20 Million Acquisition CRE Loan for North Carolina Retail Center
Fayetteville, NC – Kathy Anderson of Commercial Lender Progress Capital, arranged a $20,000,000 loan for the acquisition of Marketfair Shopping Center, located at 1916 Skibo Road in Fayetteville, NC.
The 219,600 SF Class A shopping center consists of 17 tenants and 1,288 parking spots on 23.38-acres. The property recently underwent a complete redevelopment and re-tenanting, highlighted by the mid-December grand opening of Lidl, a German-based grocery store. Lidl joins other national tenants such as Planet Fitness, Gander Outdoors and AMC Theaters.
Skibo Road is a main thoroughfare bisecting Fayetteville and connects the retail corridor to the All American Expressway. The property is located 7 miles south of Fort Bragg which is the largest Army Base in the US with more than 55,000 active military personnel.
Key terms of the CRE loan include:
- 3.53% Fixed for 10 years
- Non-Recourse
- 3 Years Interest Only
- 30 Year Amortization Thereafter
- Limited T/I and L/C Reserves
Progress Capital is a commercial mortgage advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table. #thatsProgress
