Gantry has secured a low-leverage $12 million permanent loan to refinance maturing debt for Rock River Plaza, located in Moline, Illinois.
The 389,375-square-foot retail power center is anchored by Walmart and Lowe’s with additional national tenants including Marshalls, Five Guys, Chick-fil-A, Applebee’s, and AT&T. The center serves the Quad Cities trade area from a strategic location fronting John Deere Road with ready access to I-74.
Gantry’s Joe Monteleone, Principal, and Rulin Dai, Associate, with the firm’s St. Louis production office, represented the borrower, a private real estate investor. The five-year, fixed-rate, non-recourse permanent loan was secured through a CMBS lender from Gantry’s extensive roster of vetted lenders, with full-term interest-only. “For this assignment, Rock River Plaza’s strong, consistent historic performance from a roster of top-tier credit tenants aligned with engaged, experienced sponsorship seeking a low-leverage loan,” said Monteleone.
