BARTONSVILLE, PA—Aztec Group, a Florida real estate investment and merchant banking firm, secured $13.2 million in financing for Bartonsville Square and $10.15 million for Bartonsville Plaza, two shopping centers located in Bartonsville, PA.
Bartonsville Square is an 80,000 square foot retail property anchored by a 50,000 square foot Dick's Sporting Goods. Developed by an affiliate of Legend Properties in 2013 and 2014, the three-building plaza is currently 95% leased and occupied.
Financing was provided by Basis Investment Group, a New York City-based conduit lender. Terms of the 10-year facility include a 75% loan-to-value ratio, a 30-year amortization schedule, several years of interest-only payments and a fixed interest rate.
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