RRA Provides $28M Refinance Loan For Retail Properties In Fallon, Manitowoc, And Rockford

The loan was provided by RRA for the retail properties located at 2105 Williams Ave, Manitowoc WI; 3415 Calumet Ave, Manitowoc WI; and 6260-6380 E State St, Rockford IL. The loan amount was $28,000,000 and it was a refinance loan. The terms of the loan included a $28M non-recourse loan with one extension option. In addition to refinancing the existing debt, the loan also included follow-on funding for tenant improvements and leasing commissions.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $28,000,000
• Lender: RRA
• Broker: Anthony Longo - Alpha Capital CRE

Anthony Longo from Alpha Capital CRE represented the buyer in this transaction. The loan provided by RRA allowed for the refinancing of the properties, as well as additional funding for tenant improvements and leasing commissions.