January 16, 2020
Cohen Financial’s Chicago-based Dan Rosenberg and Matt Terpstra sourced a $45-million refinance loan for a portfolio of six retail properties across the Southeast and Midwest. The sponsor is Midland Atlantic Properties, a repeat Cohen Financial customer with offices in Cincinnati and Indianapolis.
The portfolio totals 552,143 square feet and more than 80 tenants. Five of the six properties are grocery-anchored and all are well occupied.
Cohen Financial secured a fixed-rate, 10-year term loan with Goldman Sachs. The portfolio includes Parkside Square in Ocean Springs, MS; Maysville Marketsquare in Maysville, KY; Pinecrest Pointe in Raleigh, NC; Valleydale Marketplace in Birmingham, AL; Heritage Plaza in Cincinnati; and Putnam Plaza in Greencastle, IN.
“The portfolio consists of well positioned grocery-anchored properties with very diversified service tenant rosters,” said Rosenberg. “CRE investors realize that grocery-anchored properties are one of the steadiest asset classes in the retail market today.”
Pictured: Heritage Plaza in Cincinnati.
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