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C&W arranges $10.3M for LI shopping center.

Allstate Life InsUrance Company provided $10.3 million to Overseas American for the financing of the Great South Bay Shopping Center in Islip, New York.

William Shanahart and Darcy Stacom of Cushman & Wakefield, Inc. represented Overseas American in negotiations.

A consortium of wealthy investors, Overseas American, received rates and terms that couldn't be duplicated," Shanahart said. "They got a tremendous deal."

The approximately 100,000-squarefoot shopping center, which is located on the Montauk Highway, includes such tenants as Finast, Genovese Drugs and Blockbuster Video.
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Title Annotation:Cushman and Wakefield Inc. arranges financing for Overseas American for shopping center in Islip, New York for $10.3 million
Publication:Real Estate Weekly
Date:Jan 27, 1993
Previous Article:Sale at 420 5th Ave.
Next Article:GW Michaels merges with Newmark RE.

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