
First Horizon Arranges $85M Refi of Raleigh Retail Center
First Horizon Commercial Mortgage Banking has facilitated an $85 million refinance loan for Brier Creek Commons. The 519,277 square foot super regional shopping center in Raleigh is located at Glenwood Avenue and Brier Creek Parkway between Raleigh-Durham International Airport and Research Triangle Park.
Beth Harrelson with First Horizon Commercial Mortgage Banking represented the borrower, Charlotte based American Asset Corporation. The $85 million CMBS loan was secured through Zions Capital Markets.
Built in 2001, Brier Creek Commons is 98 percent leased and is anchored by BJ’s Wholesale, Dick’s Sport Goods, Ross Dress for Less, TJ Maxx, HomeGoods, Michael’s, Staples, Barnes & Noble and PetSmart.
First Horizon Commercial Mortgage Banking, formerly PMC Real Estate Capital, is wholly owned by First Horizon Corporation.
- ◦Financing