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national   /   February 12, 2020

Paul Bubny
By: Paul Bubny

Uber Capital Sources Loan for Retail in OH, IL, GA and NH

Uber Capital Group sourced a $29.5-million acquisition financing loan for the purchase of a portfolio of four retail properties, including the Medwick Marketplace in Medina, OH as well as other shopping centers in Hooksett, NH; Lithonia, GA; and Fairview Heights, IL.

The client was a private national commercial real estate investment group based in New York. Uber sourced the loan from a private lender operating nationally.

“We obtained the loan for this 900,000-square foot total, four-property portfolio at a 10-year fixed rate of 4.5%, with a 25-year full amortization and partial recourse,” said Uber Capital founder Joel J. Gorjian.

He added, “Our team’s extensive experience in both financing and operating retail properties nationwide allowed us to secure advantageous terms from the lender in only seven days of receiving this assignment, despite the shopping centers being located in different regions and in markets with significantly varying local conditions.”

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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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