Lexington, KY Cronheim Mortgage arranged permanent financing totaling $8 million for Man O' War Place, a 174,638 s/f Kroger anchored power center. Dev Morris and Andrew Stewart secured the financing on behalf of an affiliate of Equity Management, a Lexington-based commercial real estate investment and asset management firm. The loan was structured on a 12/30 basis and placed with American United Life Insurance Company, whom Cronheim represents as correspondent and servicer.
The subject is southeast of Downtown Lexington and is one of six shopping centers in its 3-mile radius with exposure to over 130,000 vehicles per day. It was 95% leased at closing to over 20 tenants including Feeders Supply, Lexington Urgent Care, Hooters, Edible Arrangements, Bright Tiger Dental, The Little Gym, and Little Caesars, among many others.
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