Randall Waddell, senior vice president of NorthMarq Capital’s Louisville regional office, finalized the $7.75 million construction loan for Jeffersonville Town Center, a 64,855-square-foot retail property at 1450 Veterans Parkway in Jeffersonville, Indiana.
The loan will be secured by the first phase of a 160-acre mixed-use development ultimately consisting of about 500,000 square feet of improvements.
The transaction was structured with a three-year interest-only term with extensions optional to the borrower. NorthMarq arranged financing for the borrower within a 45-day window to meet lease requirements of the anchor tenant, through its relationship with a local bank.
