PMAT Acquires Retail Property In Oswego, IL With $9.5M Loan

The property involved in this transaction is a retail asset located at 2300-2600 US-34 in Oswego, IL. It has a total square footage of 135,000. The landlord for this property is PMAT.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $9,500,000
• Loan Type: Acquisition
• Loan Terms: $9.5mm per Line of Credit

Yaakov Zar and Ethan Freilich from LEV Capital acted as the brokers in this transaction. They were able to secure very favorable financing terms for the buyer through a previously negotiated credit facility, despite the current rise in interest rates. PMAT acquired this property through an off-market transaction after another buyer failed to close in 2021. PMAT has a perfect track record of closing every acquisition they have put under contract since their inception in 2003, demonstrating their ability to navigate property and market level challenges over the years. This middle-market investment provides PMAT with a strong base of national anchor and junior anchor tenants, offering attractive in-place yield and multiple value-add opportunities in the near, medium, and long term.