Commercial Real Estate Direct Staff Report
AXA Equitable Life Insurance Co. has provided a $99.2 million floating-rate loan against a portfolio of 10 retail properties totaling 508,233 square feet in four states.
The loan, arranged by HFF, is scheduled to mature March 2022. It has options for two one-year extensions.
Clarion Partners owns the properties, which previously were unencumbered by debt. The New York investment manager acquired the portfolio, along with an 18,742-sf retail property at 3025 De La Vina St. in Santa Barbara, Calif., last fall for $218.8 million. Loja...
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