CPA:18 - Global closes USD38.5m retail portfolio financing.
BANKING AND CREDIT NEWS-November 29, 2016-CPA:18 - Global closes USD38.5m retail portfolio financing
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CPA:18 -- Global has closed a USD38.5 million acquisition of the mezzanine tranche for the financing of a portfolio of retail stores across Minnesota, Wisconsin and Iowa, the company said.
The tenant of the stores, Mills Fleet Farms, is a full-service supplier of high-quality merchandise for life, work, home and recreational needs.
The initial term of the agreement is two years with three, one-year extension options at the discretion of the borrower.
The loan is subordinate to a senior loan from Credit Suisse and Wells Fargo and is collateralized by a pledge of equity interests from the borrower.
CPA:18 -- Global is a publicly registered non-traded REIT formed to invest in a diversified portfolio of income-producing commercial properties and real estate-related assets. Affiliates of W. P. Carey Inc. advise CPA:18 -- Global and manage its overall portfolio.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Nov 29, 2016|
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