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Last Updated ( Tuesday, 06 March 2012 23:03 )
DATE_FORMAT_LC2=Tuesday,March 06 2012 12:00:00 am EST   
Kennedy Funding Purchases Loan For Oklahoma Retail Center

Mustang, Okla. — Englewood Cliffs, N.J.-based Kennedy Funding has closed on the purchase of a note for the loan of Silver City Town Center, an 88,999-square-foot shopping center in Mustang. The original value of the loan was $3.47 million, and was purchased by Kennedy for $2.8 million. Under terms of the transaction, the borrower, Silver City Town Center, LLC, has been granted an option to repurchase the loan.

 

Silver City Town Center was constructed in 1976 and acquired by Silver City Town Center LLC in 2007. The property is currently 55 percent occupied, and anchored by Tractor Supply Co. Other tenants include Salvation Army store, The Vine and an urgent care clinic. Taco Bell and KFC occupy company-owned outparcels.

 

 

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