Closed Loans

Kathy Anderson Secures $20 Million Acquisition Loan for North Carolina Retail Center

Kathy Anderson Secures $20 Million Acquisition Loan for North Carolina Retail Center

Fayetteville, NCKathy Anderson of 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 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 real estate 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… Plain and Simple. #thatsProgress

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