Ariel Property Advisors arranged a $5.148 million non-recourse cash-out refinance for a retail shopping center in Eastlake, Ohio.
The five-year, fixed-rate loan included a 25-year amortization schedule with no prepayment penalty.
Matt Swerdlow and Matthew Dzbanek, Senior Directors with Ariel Property Advisors, arranged the transaction on behalf of the borrower.
The 140,000-square-foot shopping center is anchored by major tenants including Harbor Freight, Dollar Tree and Powerhouse Gym in addition to several other in-line tenants.
Ariel has served as the preferred resource for real estate financing on multiple assignments for this client, a national retail owner-operator with more than 2 million square feet of retail under management up-and-down the East Coast and across the nation.
