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BWE Lands $32M for Two Shopping Centers
BWE, a national commercial and multifamily mortgage banking company, has secured financing for two retail centers: Morganton Park South Phase II in Southern Pines, North Carolina, and Freedom Plaza in Rome, New York.
Daniel Rosenberg and Logan Petersmeyer of BWE secured a $24.25 million construction loan for Morganton Park South Phase II on behalf of Midland Atlantic Properties. Alan Tapie secured an $8.03 million acquisition loan for Freedom Plaza on behalf of Octave Investment. “In this economic environment, retail investors need certainty of execution and the ability to close quickly to get deals done,” said Rosenberg.
Freedom Plaza contains 197,397 square feet of leasable area, Freedom Plaza is home to brands including Grand Union, Dollar Tree, Domino’s, and Marshalls, with a Hobby Lobby expected to open in the coming months. Morganton Park South Phase II, part of Midland Atlantic Properties’ retail development, is fully pre-leased and will feature the area’s first BJs Wholesale Club.
- ◦Financing
