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Devonshire Retail Portfolio

Location: Various, Various
Type: Retail
Price: $ 17,200,000

This pool of cross-collateralized, cross-default mortgages totaling $17,200,000 consists of four 10-year fixed rate loans on four retail properties located throughout Ohio and Indiana totaling 382,814 SF. The assets range in size from a 90% leased, 34,553 SF property which is shadow-anchored by a Wal-Mart Supercenter and a 100% leased, 147,017 SF center anchored by Kroger and Tractor Supply Company. SMC facilitated two acquisitions and two refinancing’s and enabled the sponsor to meet deadlines critical to the execution of its four transactions.