Westlake Shopping Center
Westlake Shopping Center
Location: Peoria, ILProperty Type: Retail
Size: 212,427 square feet
Investment Type: Mezzanine
Investment Size: $6,400,000
Closing Date: October 2011
RCG Longview originated a $17,500,000 loan for the refinance of an existing first mortgage held by an FDIC controlled lending institution. The loan is secured by a grocery anchored retail center occupied by 20 tenants. At closing RCG placed the senior mortgage with a balance sheet lender and retained a $6,400,000 mezzanine loan. The facility included a future funding component to assist in additional leasing at the property.
