Richland Town Center Refinance

Johnstown, Pennsylvania

June 12, 2014

MPG in conjunction with Atlanta, Georgia based Cohen Capital Corporation completed a $30,000,000 refinance of the Richland Town Center located in Johnstown, Pennsylvania. This CMBS(Commercial Mortgage Back Security) loan is for a 10 year term with a 30 year amortization schedule. The property was financed at a 75% loan to value. The term sheet for the loan was signed on April 26, 2014, with the loan closing on June 12, 2014. MPG has worked with Cohen Capital Corporation to place over $50 million in financing on commercial retail properties located in the eastern united states. Phil Helon with The Law Offices of Phillip A. Helon provided the real estate legal services on the transaction. The CMBS loan that was taken out did not mature until December 11, 2014, therefore the borrower needed to cover the defeasance penalty associated with the early payoff of a CMBS loan.

Do you have a need for commercial real estate financing or need to refinance an income producing property? Call us or email us at mattm@mcgillpg.com to discuss your financing needs.