Mission Capital Advisors announced that its Debt and Equity Finance Group has arranged $14.2 million in first-mortgage financing for Caesar’s Bay Shopping Center in Brooklyn, NY.
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FOR IMMEDIATE RELEASE
Mission Capital Advisors Arranges $14.2 Million First-‐Mortgage Financing For Caesar’s Bay Shopping Center in Brooklyn
MCA Secures Sub-‐2% Non-‐Recourse Loan for Neighborhood Retail Destination
Brooklyn, NY (July 2, 2014) — Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its Debt & Equity Finance Group has arranged $14.2 million in first-‐ mortgage financing for Caesar’s Bay Shopping Center in Brooklyn, New York.
Located in Brooklyn’s Gravesend neighborhood at 8949 Bay Pkwy, the property is a 294,075 square foot shopping center, anchored by Toys R Us, Kohls, Modells and Best Buy. Plans call for the proceeds of the loan to be used for capital improvements to the property.
Mission Capital Managing Director Jason Cohen arranged the five-‐year, low-‐leveraged, non-‐recourse
loan at a sub-‐2% rate.
“We positioned the quality of the asset with a strong lineup of anchor tenants, strategic location and strength of the sponsor to secure the most efficient source of capital. This will enable the owner to reinvest in the property, which continues to serve the community as a primary retail destination,” said Cohen. “This deal reflects Mission Capital’s creative approach and relationships with a wide network of lenders, in order to identity the right lender to provide competitive rates and terms,” he added.
About Mission Capital Advisors
Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York City, Florida, Texas, California and Mobile, Al. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across commercial and residential loan sales; debt, mezzanine and JV equity placement; and loan portfolio valuation. Since its inception, Mission Capital has advised a variety of leading financial institutions and real estate investors on more than $45 billion of loan sale and financing transactions, as well as in excess of $14 billion of Fannie Mae and Freddie Mac transactions, positioning the firm strongly to provide unmatched loan portfolio valuation services for both commercial and residential assets. Mission Capital’s seasoned team of industry-‐leading professionals is committed to achieving clients’ business objectives while maintaining the highest levels of integrity and trust. For more information,