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Mall Owner Lands $40M Refinancing

CARBONDALE, IL-Bayview Financial LP of Miami refinances University Mall, a 677,113-sf property here built in 1972 and renovated in 2003. The lender is CDC Mortgage Capital Inc.

By Brian K. Miller | Updated on August 11, 2004

CARBONDALE, IL-The owner of University Mall here has refinanced the 677, 113-sf retail center here to the tune of $40 million. The asset is owned by entities affiliated with Bayview Financial LP of Miami. The 10-year, fixed-rate loan carries an interest rate of 6.11%. The lender is Greenwich Capital Markets, Inc., a conduit lender. The financing was sourced by the Miami office of Holliday Fenoglio Fowler LP. HFF managing director Paul Stasaitis arranged the deal.The mall is located on 54 acres at 1237 East Main St. The property was built in 1972 and extensively renovated and expanded in 2003. Tenants include JC Penney, K’s Merchandise Mart, Bed Bath & Beyond, Michael’s, Kerasotes Theatres, Goody’s and Panera Bread. Overall occupancy is about 90%.

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