Aries Capital Arranges $3.75 Million Bridge Loan for Atlanta Retail Center

February 03, 2014

Atlanta Retail CenterAries Capital has completed a $3.75 million bridge loan for a retail center in Atlanta, Georgia. The loan features a 36‐month interest only term.

Located near Atlanta’s Hartsfield International Airport, the property is a 30,000 square foot standalone multi‐tenant retail strip center originally constructed in 2005. The center was refinanced, but went into foreclosure during the 2008 downturn, and eventually fell into the hands of a special servicer.  After negotiating an attractive purchase price, the Borrower had only 30 days to secure financing due to the special servicer’s desire to remove the asset from its books by year end.  Knowing the complexity of the transaction, the Borrower sought Aries Capital’s assistance.

“Aries has been a trusted advisor of ours for a long time,” said a spokesperson for the Borrower, “There were a lot of hurdles to overcome in order for this deal to happen, and we knew Aries had relationships with lenders who are serious and capable of delivering in view of our tight deadline.”

Aries was able to secure a bridge loan from a familiar lender who was comfortable with this asset and the Borrower, and who was willing to work within the strict time constraints. Once the Borrower was ready to move forward, we only had two weeks to complete the deal in order to meet the late December deadline. Despite working through what is historically the most difficult time of the year to process a deal, Aries was able to provide a successful result.

The Borrower, who owns several other commercial properties, plans to lease the remainder of the vacant space and refinance the property within the next 36 months.

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© Aries Capital, LLC 2022

© Aries Capital, LLC 2022