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North Decatur Square Obtains $14M Mortgage

ATLANTA-The permanent loan is for 10 years, locked at a 6.9%-rate, with a 30-year amortization, arranged by the Atlanta office of Chicago-based iCap Realty Advisors and funded by Newark, NJ-based Prudential Mortgage Capital. The 136,282-sf property is 98% leased.

By Marita Thomas | Updated on August 09, 2002

ATLANTA-The local owner of North Decatur Square Shopping Center, North Decatur Square LLC, has obtained a $13.6-million, fixed-rate, 10-year, permanent mortgage at 6.9% interest, using a 30-year amortization. The mortgage has an 80% loan-to-value ratio.

The local office of Chicago-based iCap Realty Advisors arranged the financing, and Newark, NJ-based Prudential Mortgage Capital Co. provided the funds. Icap refused to identify the property’s owner.

North Decatur Square is a 136,282-sf, class-A shopping center located on 17.29 acres. Phase one was completed in 1999, and a second phase reached completion during 2000.

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