BEVERLY HILLS, Calif.
- March 28, 2017
Eichner Company has arranged $28.125 million in first mortgage debt from a money center bank to refinance a portfolio of single-tenant ShopKo stores located in Bend, Eugene and Salem, OR.
The retail properties are located at the dominant intersection within their respective trade areas. ShopKo Bend is located on Highway 97 adjacent to the Bend River Promenade Mall, which is anchored by Macy's, Kohl's and T.J. Maxx; ShopKo Eugene is located on Coburg Road at Beltline across from a Costco, PetSmart and Office Depot; and ShopKo Salem is located at South Lancaster interchange and Interstate-5 across from WinCo Foods, Sportsman's Warehouse, Home Depot and Ashley Furniture.
"The non-recourse 10-year financing price was below 5% and replaces a maturing long-term loan," said Sonnenblick-
Eichner Company Principal Elliot Eichner.
Patrick Brown, also a Principal of Sonnenblick-
Eichner Company, added, "We were successful in structuring a loan that will mature upon the expiration of the tenant leases."
Eichner Company (http://www.sonneich.com
) is a Beverly Hills-based real estate investment banking firm that specializes in arranging structured finance for acquisition, construction and permanent loans, interim and mezzanine financing as well as joint-venture equity transactions. The company is recognized for its expertise in marketing institutional real estate for sale and providing capital for all product types including retail, office, hospitality, industrial, and multifamily properties.
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