First Washington Realty Secures $50 Million Refinancing Loan From Prudential Financial For Retail Center

The Shops of Prairie Village is a retail center located at 6950 Mission Lane in Prairie Village, Kansas. The property spans 298,703 square feet and covers 20 acres. First Washington Realty secured a refinancing loan amounting to $50 million from Prudential Financial for this asset, which consists of ten buildings and includes tenants such as Hollywood Feed, Dolce Bakery, and Village Flower Co.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $50,000,000
• Address: 6950 Mission Lane
• Market: Prairie Village, KS
• Asset Size: 298,703 SF
• Acreage: 20
• Lender: Prudential Financial
• Landlord: First Washington Realty

The refinancing loan facilitated by Prudential Financial represents a strategic financial maneuver for First Washington Realty, which had previously financed the property with a $28.5 million loan from Nationwide. The successful refinancing highlights the confidence in the retail property and its tenant mix.