Growth area attracts $28m Fremont loan.

Fremont Investment & Loan provided a $28.628 million loan to Clark D. East of CDE Development Group, LLC for the construction of a to-be-built 136,288 s/f neighborhood retail center anchored by LA Fitness, located in a growth area in a northern suburb of Tampa, Florida.

The announcement was made by Andrew Shires, vice president and senior loan originator with Fremont's Atlanta Commercial Real Estate office.

"Clark East has owned the property since 2003 and has since added infrastructure, sold four out parcels and commenced vertical construction on the site," Shires said.

"Fremont took the care to understand this project which was already in progress and we became comfortable enough to fund a construction draw as a part of the initial funding."

William Roy, CFO and partner in CDE Development Group said "Fremont has been a delight to work with.

"It is great to work with a lender that understands the challenges a developer incurs daily. Fremont delivers what they say."

Fremont designed the loan to facilitate the borrower's tenant-in-common ownership structure and business plan which calls for continuing to lease-up the 50 percent pre-leased center and includes plans to sell the remaining two out parcels and the retail center within the term of Fremont's loan.

Fremont Investment & Loan is a wholly-owned subsidiary of Fremont General Corporation.