ROCKWALL, TX-Dunhill Partners Inc. has obtained a CMBS loan to refinance Steger Towne Crossing, a 102,454 square foot retail center anchored by The Sports Authority and shadow anchored by SuperTarget.
The 10-year, fixed-rate loan replaces an existing portfolio loan that was scheduled to mature soon, according to Jason Piering with Quadrant Realty Finance. He and Randy Fleisher arranged the non-recourse loan for Dunhill Partners.
Dunhill Partners’ new CMBS loan was originated by a well-known CMBS lender. It has an interest rate in the 5% range and a 70% LTV restriction.
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