ORIX USA’s Real Estate Capital Group announced the closing of a $25.13 million first mortgage bridge loan that will be used to facilitate the refinance and repositioning/lease-up for a 182,016 square-foot anchored shopping center in the Northeast region of the U.S. The site contains ~18 acres and parking for 914 cars. The site plan is a traditional layout with anchor and junior anchors and in-line store fronts.
“We are excited to close on this retail bridge asset, which presented a unique opportunity due to a significant portion of the property being vacant. However, with leases already in place, the Borrower had a clear path forward. This loan required substantial tenant improvements, and our platform was able to seamlessly navigate this challenge, leveraging both our bridge lending and construction expertise,” said Adam Diamond, Managing Director and Originator for ORIX Real Estate Capital Group.
ORIX USA’s Real Estate Capital group is a proprietary commercial real estate lending business, delivering customized financing for a full range of property types in primary and secondary metropolitan markets in the U.S. and Canada. Loans made or arranged in California are pursuant to a California Financing Law license.
Since inception, the Real Estate Capital Group has successfully invested over $4 billion of balance sheet capital. For over 20 years the Real Estate Capital Group has been reliably providing construction and bridge financing for commercial real estate through a range of market cycles.
The Real Estate Capital Group is comprised of seasoned specialists transacting on a full range of property types. The group specializes in construction, bridge, mezzanine, and preferred equity opportunities and has fully dedicated origination, underwriting, closing, and servicing teams, ensuring that clients’ needs are met with timely execution.