Berkadia Arranges $33.5 Million Loan for Retail Portfolio

Baton Rouge, La. and Natchez, Miss.  The loan is structured at 83 percent LTV with a 30-year amortization schedule.

Baton Rouge, La. and Natchez, Miss. – The Orange County office of Berkadia Commercial Mortgage LLC has arranged $33.5 million for the refinancing of a portfolio of 15 retail properties in Louisiana and Mississippi. Ed Kim and Zane Sweet of Berkadia arranged the five-year, fixed-rate loan through Bank of America Merrill Lynch on behalf of the borrower, Kimble Development of Louisiana LLC. The loan is structured at 83 percent LTV with a 30-year amortization schedule. The properties, located in secondary markets such as Baton Rouge in Louisiana and Natchez in Mississippi, comprise nearly 500,000 square feet, and are collectively 92.5 percent occupied. Notable tenants include Rue21, Stage, Dollar Tree and Family Dollar.

   John Nelson

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