$190 Million Kramont Realty Trust Financing Closes.Business Editors WESTPORT, Conn.--(BUSINESS WIRE)--June 16, 2003 Holliday Fenoglio Fowler, L.P., one of the nation's leading commercial mortgage banking firms, announced the closing of an $190 million permanent loan through Metropolitan Life Insurance Company, for Kramont Realty Trust (NYSE NYSE See: New York Stock Exchange :KRT KRT Knight Ridder/Tribune KRT Keratin KRT Knights of the Round Table (Diablo gaming guild) KRT Khartoum, Sudan - Civil (Airport Code) KRT Kleene's Recursion Theorem ), a neighborhood and community shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). based in Plymouth Meeting, Pennsylvania Plymouth Meeting is a census-designated place (CDP) in Montgomery County, Pennsylvania, United States. The population was 5,593 at the 2000 census. It is home to the Colonial School District as well as the Plymouth Meeting Mall. . Senior Director Mark Fisher This article is about the British politician. For others, see Mark Fisher (disambiguation). Mark Fisher (born October 29, 1944) is a British politician. from Holliday Fenoglio Fowler's Westport, Connecticut Westport is a coastal town in Fairfield County, Connecticut, in the United States. The 2004 population estimate was 26,644. The town is as affluent as other expensive Fairfield County towns, boasting a per capita income of more than $70,000. office produced, structured and coordinated the ten-year, fixed market rate financing on behalf of Kramont. The analyst/closing team was led by Kristin Brozek with assistance from Elizabeth Paolella and Chris Riniti, as well as representatives from HFF's New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey, Connecticut, Pennsylvania and Washington D.C. offices. Collateralized by 15 properties (comprising 15 separate loans) and containing nearly three million square feet, the loan is payable interest-only for the first two years, with a 30-year amortization for the remaining eight years of the loan term. According to a statement issued by Carl E. Kraus, senior vice president, chief financial and investment officer and treasurer of Kramont, the annual interest savings are projected to be $3.3 million per year. "It was a pleasure working with the Kramont people and their entire staff, especially Jeff Hipple and Basil Donnelly," said Fisher. The properties, which are primarily grocery-anchored shopping centers, are located in Pennsylvania, New York, Connecticut, Maryland and New Jersey. The portfolio is currently 98% leased and major tenants include Wal-Mart, Home Depot, Pathmark, Giant Food, Kohl's, T.J. Maxx, ShopRite, Staples, Kids R Us, Circuit City, Sports Authority, Regal Cinemas and Marshalls. "You really need partners in a large closing like this and Metropolitan Life was terrific to work with. We had bi-weekly conference calls and worked together to resolve issues throughout the closing," Fisher added. With 18 offices nationwide, Holliday Fenoglio Fowler is one of the country's largest commercial real estate capital intermediaries, and the only firm that provides its clients with a complete menu of capital solutions for each assignment from its integrated platform of debt, private equity, structured finance and investment sales. Since 1998, the firm has capitalized close to $64 billion in all markets and property types. |
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