ShopKo Eugene, OR

March 29, 2017 Comments Off on $28M Refi Directed to Oregon ShopKo Stores Views: 478 National News, Oregon, West

$28M Refi Directed to Oregon ShopKo Stores

Sonnenblick-Eichner Co. arranged $28.1 million in first-mortgage debt to refinance a portfolio of single-tenant ShopKo stores in Oregon. The financing replaces a maturing long-term loan, according to Sonnenblick-Eichner’s Elliot Eichner, adding that the non-resource, 10-year financing price was below 5%, and is set to mature when the leases roll over.

The retail properties are at the dominant intersections within their trade areas. The portfolio consists of:

  • ShopKo Bend, 60 N.E. Bend River Mall Dr., Bend
  • ShopKo Eugene, 2815 Chad Dr., Eugene
  • ShopKo Salem, 1230 Lancaster Dr. S.E., Salem

The sponsor, Atlas Investments of Portland, OR, acquired the three retail stores and others for $75.5 million in partnership with Sovereign Investment Co. more than 10 years ago.

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