Ind. Theaters Attracting Institutional Finance

MILWAUKEE—Today’s historically low interest rates have made the prospect of refinancing loans quite attractive for many businesses. And some top lenders are also willing to look for opportunities with businesses that usually don’t hit their radar screens.

Walker & Dunlop, Inc., a Bethesda, MD-based real estate finance firm, for example, just originated two loans with 10-year terms and totaling $6,900,000 for New Land Enterprises’ Fox Bay Cinema Grill and the Oriental Theater in Milwaukee, WI. The loan was provided by Philadelphia-based RAIT Financial Trust. But Rob Meister, vice president of Walker & Dunlop in Milwaukee, tells GlobeSt.com that movie theaters usually secure such deals from local banks, rather than institutional lenders like RAIT.