September 06, 2016

Bank of North Carolina Provides $23.3M Acquisition Loan for Shopping Center in North Carolina

Source:  Rebusiness Online

Published: September 2, 2016 by John Nelson in Loans, North Carolina, Retail, Southeast

WILSON, N.C. — Bank of North Carolina has provided a $23.3 million acquisition loan for Heritage Crossing, a 311,030-square-foot, grocery-anchored shopping center in Wilson, roughly 40 miles west of Greenville. Travis Anderson and Cory Fowler of HFF worked on behalf of the borrower — a partnership between Collett Capital, Return Holdings and SilverCap Partners — to place the five-year, floating-rate loan with Bank of North Carolina. Harris Teeter, Ross Dress for Less, Marshalls, Best Buy, Belk, Bed Bath & Beyond and PetSmart anchor the fully occupied center. Other tenants include Starbucks Coffee, Rue 21, Five Below, Payless, Kay Jewelers, Moe’s Southwest Grill, Subway, AT&T Wireless, Cato and GNC.