Rockwood Real Estate Advisors arranges $17.5 million loan

Rockwood Real Estate Advisors, on behalf of Centro Properties Group, has arranged $17.5 million of financing for Sunshine Square, a grocery-anchored shopping center in Suffolk County. The five year fixed-rate financing was provided by Natixis Real Estate Capital. Located between Rte. 27 and the Long Island Expressway, two major Long Island thoroughfares, the 223,322 s/f center is anchored by Super Stop & Shop. Sunshine Square enjoys a stable cash flow, with annual lease expirations representing no more than 11.2% of the total gross leasable area over the next 10 years. The property was well-received with multiple financing options offered, including ten-year fixed as well as a floating rate option. Additionally, interest was shown by both commercial banks and life companies. Ultimately, the loan was financed at 75% LTV for maximum financing, an indication of lenders' continued strong interest in providing capital to high-quality retail assets located in strong markets. Dan McNulty, co-chairman and co-CEO of Rockwood said, "The enthusiasm and wide-ranging interest we witnessed for this transaction is a welcome indication that the debt capital markets are rapidly reviving. We expect financing transactions to continue to pick up in the coming months." Rockwood managing director Andre Dobrowsky said, "Rockwood tapped its extensive network of local and national lenders to secure the most advantageous terms for our client. The process proved highly competitive, with Natixis demonstrating a discerning eye for a quality asset in a market with strong demographic fundamentals." Rockwood Real Estate Advisors is a full-service real estate investment banking firm that provides a broad range of financial advisory and transactional services and business solutions for clients in the commercial real estate industry. The company is headquartered in New York with offices in Dallas, Miami, Orlando, and Mexico City.