Mission Capital Advisors announced that its Debt and Equity Finance Group has arranged long-term, low-interest rate financing for a shopping center in Florence, Alabama.
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FOR IMMEDIATE RELEASE
Mission Capital Advisors Arranges First Mortgage Financing For Florence Square Community Shopping Center in Alabama
MCA Secures Long-‐Term, Fixed-‐Rate Financing For Anchored Retail Shopping Center
Florence, Ala. (July 9, 2014) — Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its debt and equity finance group has arranged long-‐term, low-‐ interest rate financing for a shopping center in Florence, Alabama.
Gregg Applefield and Will Sledge, members of both Mission Capital’s Commercial Loan Sales team and Debt & Equity Finance Group worked together on the transaction. Mission Capital quickly secured the $5 million loan on behalf of Fairway Capital Partners and Triangle Capital, an example of the firm’s multidisciplined, team approach to providing clients superior service.
Mission Capital successfully positioned the property, called Florence Square, as being in close proximity to northwestern Alabama’s prime retail corridor. Florence Square is anchored by two retailers, TJ Maxx and Kmart, which have both been located at the property for more than 20 years.
Applefield described this deal as another example of Mission Capital’s strength in securing optimal financing for properties in tertiary markets. In addition to this deal, Mission Capital recently secured long-‐term, low interest rate financing for two unanchored strip shopping centers in the Detroit, Michigan suburbs of Farmington Hills and Troy.
“This deal is a testament to Mission Capital’s creative approach, and depth of reach in the capital markets, further demonstrating our ability to identify a targeted group of lenders and secure financing at superior rates and terms, even in secondary markets where it has been historically very difficult to source capital,” said Applefield.
Applefield added: “Our vast network of contacts and deep knowledge of the market has contributed to our ability to deliver non-‐recourse, attractive financing as lenders and investors are increasingly focused on opportunities in secondary markets.”
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, visit www.missioncap.com.