Yale Realty Services Secures $73.4 Million Acquisition Loan From Bank Of Montreal In Virginia Beach

The property involved in this transaction is a retail asset located at 3332 Princess Anne Road in Virginia Beach, VA, covering a total square footage of 408,000. Yale Realty Services secured a loan amounting to $73,400,000 for the acquisition of the property, which forms part of a larger $102 million purchase from an undisclosed REIT.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $73,400,000
• Lender: Bank of Montreal
• Landlord: Yale Realty Services
• Broker: Rob Carter - Berkeley Capital Advisors
• Loan Type: Acquisition

This transaction involved Yale Realty Services obtaining financing through Bank of Montreal to support the acquisition of Landstown Commons. The deal was arranged by broker Rob Carter from Berkeley Capital Advisors, emphasizing the significance of the property in a high-growth retail market.