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Florida & Gulf Coast  + North Florida  + Retail  |  June 4, 2019
David Cohen
By: David Cohen

Ready Capital Provides $26M Refi for Jacksonville Grocery-Anchored Retail Center

Ready Capital provided a $26 million loan to refinance a 260,000-square-foot, grocery-anchored retail property in Northeast Jacksonville. The loan is a refinancing of an existing Ready Capital bridge loan, which closed in July 2016.

Tenants at the retail center include Publix, GameStop and Firehouse Subs.

Terms of the non-recourse loan include a part fixed, part floating rate loan that features a 60-month term. Financing is inclusive of a facility to provide future funding for capital expenditures, tenant leasing costs, and an earn-out upon achieving performance thresholds. David A. Cohen of Ready Capital worked on behalf of the undisclosed borrower in the transaction.

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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