KeyBank Provides $51.6M in Acquisition Financing for Three Retail Centers – REBusinessOnline
CLEVELAND — Cleveland-based KeyBank Real Estate Capital (KBREC) has provided $51.6 million in acquisition financing for three retail centers in Ohio, Oklahoma and Pennsylvania. First National Realty Partners LLC is acquiring the assets.
Southland Crossings is a 245,678-square-foot center in the eastern Ohio city of Boardman. Anchor tenants include Giant Eagle, Michaels, Ross Dress for Less and PetSmart.
Summit Square is a 166,552-square-foot property in Tulsa that is anchored by Reasor’s Foods, American Freight and Tuesday Morning.
The Village at Pittsburgh Mills is a 161,079-square-foot center in Tarentum, Pa., that is anchored by Ross Dress for Less, Michaels, PetSmart and Aldi.
Jon Scott of KBREC structured the financing with a five-year term and interest-only payments.
