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40,391-SF Shopping Center Lands $11M Refinance

HOUSTON-Greenberg & Co. uses the Centre@Greenway as collateral for a $10.6-million loan with a 10-year term and 5.56% fixed-rate interest. The seven-year-old center is labeled as marquee-quality real estate with a full roster of national and local tenants.

By Jennifer D. Duell | Updated on May 13, 2005

For more retail coverage, click GlobeSt.com/RETAIL.

HOUSTON-Greenberg & Co., a locally based developer, has obtained a $10.6-million non-recourse loan for a 40,391-sf unanchored retail center, Centre@Greenway. The loan retires recourse financing from a local bank.

Greenberg’s 10-year refinance, amortizing over 30 years, has a fixed-rate interest of 5.56%, according to Greg Young, a producer in Live Oak Capital Ltd.’s local office who arranged the financing through New York City-based Lehman Brothers Bank FSB. Built in 1998, the fully leased center at 3831 Richmond Ave. abuts an Edwards Cinema.

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