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Southern Pines, N.C. and Cedar Falls, Iowa — BWE has organized $49.5 million for the refinancing of two purchasing facilities totaling 414,680 sq. toes situated in North Carolina and Iowa. Dan Rosenberg, Logan Petersmeyer and Isabella Barrios of BWE secured the financings on behalf of Cincinnati, Ohio-based Midland Atlantic Properties. Each non-recourse loans characteristic aggressive rates of interest and a number of years of interest-only funds.
The primary property, Viking Plaza Drive in Cedar Falls, Iowa, is a 147,659-square-foot purchasing heart leased to Scheel’s, Michaels, Outdated Navy and Ulta Magnificence.
The second property, Morganton Park South in Southern Pines, North Carolina, is 267,021 sq. toes and almost totally leased. Goal anchors the middle, which options further tenants similar to Dick’s Sporting Items, Golf Galaxy and HomeGoods.
