Finance Mortgage Banking
Glimcher Finances Colonial Park Mall
April 24, 2008

Glimcher Realty Trust has recently completed a $42 million mortgage loan financing on Colonial Park Mall in Harrisburg, Pa. The new loan has a three-year maturity and a floating interest rate of LIBOR plus 1.65 percent with no principal amortization. The loan was originated by U.S. Bank National Association. The Company has swapped to an all-in fixed rate of 4.97 percent on the loan for the first two years. Net proceeds from the financing were used to pay down outstanding borrowings on its credit facility. The new loan replaces the previous $32 million financing on the property.

 
Recent Mortgage Banking Headlines
Corus, Lehman Bros. Make D.C. Loans
May 15, 2008
Corus Bank closed a $72 million loan to MR BP Office #1 L.L.C. to finance the construction of a nine-story Class A office building located at 55 M Street SE in Washington, D.C.
$41M Financing Deal Closes for Dallas-Area MF
May 14, 2008
A financing package valued at approximately $41 million has been put in place for the 600-unit St. Marin/Karrington Apartments complex in Coppell, Texas, about 30 miles from downtown Dallas.
NorthMarq Arranges $49M Mortgage for Point Niguel
May 13, 2008
Michael Elmore of NorthMarq Capital, Inc.’s Los Angeles Regional office, arranged first mortgage financing of $49 million for Point Niguel, a 324-unit multi-family complex, located in Laguna Niguel, Calif.
larimer $145M Construction Loan Set for Denver Tower
May 13, 2008
The Dallas office of Holliday Fenoglio Fowler L.P. has announced that it arranged a $140 million construction loan for 1800 Larimer.
Meruelo Maddux Battles Financial Woes
May 12, 2008
Ahead of releasing its first quarter 2008 financial results after the market closes tomorrow, Downtown Los Angeles landlord Meruelo Maddux Properties Inc. has been taking steps to battle debt woes and a depressed stock price.
 

 

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