Renasant Bank Provides $25.1M Refinance For Finard Properties Retail Center In Memphis

The transaction involves a retail asset located at 3450 Poplar Avenue in Memphis, TN. The property is associated with a loan amount of $25,139,000, under a refinance loan type and includes a seven-year, fixed-rate loan. The asset is distinguished by its high-traffic location near the University of Memphis and is anchored by a long-term leased Kroger, aimed at facilitating center upgrades and attracting new tenants.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $25,139,000
• Lender: Renasant Bank
• Landlord: Finard Properties
• Brokers: Brett Paulsrud, Gregg Shapiro, Amy Lousararian & Michael Schwarze - JLL
• Loan Terms: seven-year, fixed-rate loan

The refinancing of Poplar Plaza was arranged by JLL, emphasizing Memphis's growth linked to its logistics, healthcare, and manufacturing sectors. The transaction key players include Renasant Bank as the lender and Finard Properties as the landlord, supported by the brokerage team from JLL, who were instrumental in orchestrating the deal.