GE provides fixed rate CMBS loan for Shoppes.

GE Real Estate announced a $8,995,000 ten-year, fixed-rate loan, at 80% loan-to-cost, to Crimson Capital LLC for the acquisition of the Shoppes at Hamilton. The property is located on South Erie Boulevard, a densely-developed community in Hamilton, Ohio.

Constructed in 2006, Shoppes at Hamilton is a neighborhood retail center with Kroger supermarket as the main anchor.

It has 90,997 square feet of retail space including eight other national and regional tenants. The property is currently 91 percent leased. The mix of residential, commercial, and light industrial development in the surrounding area ensures steady retail demand.

Crimson Capital gave GE the first look at this transaction. "Our excellent relationship with Crimson Capital, together with assistance we provided in assessing the property, gave them confidence in our ability to deliver in spite of a turbulent market," said GE Real Estate's Joel Traut.

Stephan Malley of Crimson Capital added, "We are very pleased to have acquired the Shoppes at Hamilton.

We could not have closed this deal without the great efforts of Joel Traut and Jill McEntegart, who delivered on our behalf despite the significant shift in the debt capital markets that occurred before we had the rate locked. We value our business relationship with GE Real Estate and look forward to working with them in the future."