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4/14/17
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NewMark Merrill Companies has completed recapitalizations totaling $26.6 mil of two of its retail centers. The transactions consisted of a $19.1 mil refi of Bristol Warner Village, located in Santa Ana, and a $7.5 mil refinance of Fort Collins Marketplace, located in Fort Collins, CO.
Bristol Warner Village is located at the southeast corner of Bristol St and Warner Ave in Santa Ana. The 80.9k sf property recently underwent a major redevelopment and is 98.5% occupied by a strategic mix of tenants including Starbucks, 99 Cent Only, Chase, T-Mobile, Metro PCS and many other great retailers.
Fort Collins Marketplace is located at the southwest corner of College Ave and Horsetooth Rd in Fort Collins, CO. The 79.1k sf property is 96% occupied by tenants including Safeway, Chick-fil-A, Subway and Red Wing Shoes. Additionally, Starbucks has recently signed a lease and will open in the near future. It is situated in the heart of Fort Collins just one block south of the Foothills Mall.
A number of NewMark Merrill executives were involved in these transactions, including Sandy Sigal, Susan Rorison, James Patton, Sandra Kist, and Allen Ginsborg. Additionally, William McPadden, Jeffrey Packard, Tom Treacy and Chris Bingham of John Hancock arranged the financing, and Kostas Kavayiotidis of Pacific Southwest Realty was the broker.
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