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National  |  February 14, 2020
David Cohen
By: David Cohen

JLL Arranges $15M Refinancing for Alabama Retail Center

JLL has arranged a $14.6 million loan to refinance Shops on the Circle, a 182,547-square-foot retail center in Dothan, AL.

Shops on the Circle is 95.6% leased to a roster of national and regional tenants, including TJ Maxx, PetSmart, Big Lots, Old Navy, Office Max, Five Below and Shoe Carnival. Situated on 16.69 acres at 3500 Ross Clark Circle, the retail center is at the intersection of Ross Clark Circle and Montgomery Highway.

Gregg Shapiro and Greg Gaughan of JLL represented the borrower, RCG Ventures LLC and DRA Advisors LLC, to place the 35-month, floating rate, non-recourse loan with lender Synovus bank. Proceeds will be used to refinance an existing loan used by the borrower to make property improvements since purchasing the retail center in 2014.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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