| Transaction: |
Shops at Central Park, Bedford (Ft. Worth), TX |
| Property Type: |
Grocery-anchored shopping center to be repositioned |
| Structure: |
Mezzanine debt, secured by pledge of ownership interests |
| MF Loan: |
$3,080,000 |
| Broker: |
L.J. Melody |
| Senior Loan: |
$13,000,000 |
| Description: |
Developer had opportunity to acquire this 192,000 grocery-anchored center to be improved and respositioned, but had a short fuse to do so. Mountain’s commitment was executed on 12/3/03 and had to close by 12/24/03. The mezzanine loan represents 90% of the capital and matures in 60 months.
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