FINANCED
RIPCO Secures $18M Loan For Fareri Associates' Acquisition Of Naples Retail Center
2104-2184 Tamiami Trail North
Retail
129,754 SF
129,754 SF
Financed 220 days ago
Summary
Loan
FLORIDA
Retail
129,754 sqft
A grocery-anchored shopping center located at 2104-2184 Tamiami Trail North in Naples, FL has been acquired by Fareri Associates. The property spans 64,877 square feet and is situated in an affluent market. The acquisition was made possible through a $18,000,000 loan provided by BNY Mellon.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $18,000,000
- Address: 2104-2184 Tamiami Trail North, Naples, FL
- Market: Naples
- Loan Type: Acquisition
- Lender: BNY Mellon
- Landlord: Fareri Associates
- Landlord's Representative: Steven Sperandio, Michael Fasano, Jake Weiss, and Brice Shafer from Ripco
RIPCO's Head of Debt & Structured Finance, Steven Sperandio, along with his team, facilitated the $18,000,000 loan for Fareri Associates. This loan supports the acquisition of the grocery-anchored shopping center in Naples, FL. Fareri Associates, the landlord, has a significant real estate portfolio with assets valued at approximately $1.5 billion and 5 million square feet across Connecticut, New York, and Florida. The loan is part of Fareri Associates' strategic plan to expand its footprint in Florida.
Players
Details
FINANCED
IMAGE: Brice Shafer, Steven Sperandio, Jake Weiss & Michael Fasano
DATE: 09/25/2023
ADDRESS: 2104-2184 Tamiami Trail North
MARKET: Naples
ASSET TYPE: Retail ~ SF: 64,877
LENDER: BNY Mellon (@BNYMellon)
LANDLORD: Fareri Associates
LANDLORD'S REP: Steven Sperandio (@StevenSperandio), Michael Fasano (@MaFasano87), Jake Weiss (@JakeWeiss6) & Brice Shafer - Ripco (@Ripcorealestate)
LOAN AMOUNT: $18,000,000
LOAN TYPE: Acquisition
NOTE FROM LANDLORD'S REP: RIPCO’s Head of Debt & Structured Finance, Steven Sperandio and his team, secured a $18,000,000 loan for Fareri Associates to facilitate the acquisition of a grocery-anchored shopping center in the affluent market of Naples, FL. The Sponsor has developed, repositioned, and/or currently owns ~$1.5.5 billion and 5 million square feet of real estate across Connecticut, New York and Florida. This loan is part of the Sponsor's larger growth strategy in Florida, where Fareri's plan is to rapidly expand its footprint.View on map
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Address2104-2184 Tamiami Trail North
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