Torchlight Provides $51.1 Million of Acquisition Financing on Santa Fe Place Shopping Center

Jan. 15, 2015 - PRLog -- New Mexico (January 15, 2015) -- Torchlight Investors today announced that it has provided $51.1 million of acquisition and renovation financing on Santa Fe Place, a prominent regional mall, located in Santa Fe, New Mexico.

Over $30 million of capital and tenant improvements will be invested into the 570,000 square foot property to renovate and upgrade the center.  The interior and exterior will be transformed and updated, targeting a strategic mix of national retailers to reinvigorate Santa Fe Place, and maintain it as a center of community activity.

Santa Fe Place is the primary retail destination in an expansive trade area with more than 170,000 residents. Santa Fe Place is conveniently located at the intersection of Cerrillos Road and Rodeo Road, the principal corridor to the downtown area, and the focal point of the primary retail hub within the Santa Fee metro area.  Retailers include Dillard’s, JC Penney’s, Sears, The Sports Authority, Victoria’s Secret, Children’s Place and Boot Barn with over 70 in-line stores.

“We are very excited about the opportunity to partner with an experienced sponsor who has specialized in managing and leasing malls nationally for over two decades.  Santa Fe Place is the only enclosed shopping center in a 50 mile radius and positioned properly, is projected to produce significant value to the city and our investors.” said Steve Schwartz, Managing Director of Acquisitions.

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