CHICAGO- Orland Towne Center, a 136,945-square-foot retail property located at 159th Street and 94th Avenue in Southwest suburban Orland Hills, has secured a $7.8 million refinance of its mortgage. Jeff Frankel, a senior vice president and senior director in NorthMarq's Chicago regional office, arranged the transaction.
Major tenants at Orland Towne Center include the Sports Authority, Five Below, PetSmart, and Aldi, the low-cost grocery. The center is shadow-anchored by a Walmart Supercenter.
Financing was based on a 12-year term and a 12-year amortization schedule and was arranged for the borrower, Vista Equities, LLC, an Illinois limited liability company, by NorthMarq through its relationship with a non-correspondent life company lender.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
