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JLL Arranges $18M Acquisition Financing for Albany Retail Center
Heidenberg Properties Group has secured $17.6 million in acquisition financing for At Colonie Center, a 243,389-square-foot retail destination in Albany, New York. Provident Bank provided the loan. JLL’s Scott Aiese and Stephen Van Leer arranged the financing.
Anchored by Whole Foods, other key tenants include Floor & Décor, Sierra Trading Post, and Bank of America. With 94,000 square feet of vacant space formerly occupied by Sears, At Colonie Center is situated on 20.68 acres and includes 1,554 parking spaces.
“In addition to stable in-place cash flow from a powerful tenant roster, At Colonie Center offers multiple pathways to add value,” said Aiese. “With a solid business plan and a four-decade reputation of excellence in open-air shopping centers and retail properties, Heidenberg Properties Group is the kind of borrower that lenders actively seek out in today’s market.”
- ◦Financing
