Shopping center secures $9.1 million refinancing

June 20, 2017

 

Vintner’s Square shopping center in Lodi has secured refinancing in the amount of $9.1 million through San Francisco-based New Realty Capital.

The shopping center, located on 9.11 acres, includes five buildings housing multiple tenants like Lowe’s, Chili’s, Pier 1 Imports, H&R Block and others. The refinancing gives the owners of Vintner’s Square better cash flow.

The high-traffic area was recently expanded to include further retail south of Vintner’s Square, filling all four corners of the intersection of Kettleman Lane and Lower Sacramento Road with retail, restaurants and other services.

Mitch Zeemont, Principal, and Darija Walker, Associate for Newmark, arranged the deal. It is a non-recourse, 10-year term, 25-year amortization financing, according to a statement. Newmark will service the loan.

 

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