ATLANTA – Stonehill’s commercial real estate group, Stonehill CRE, has provided approximately $160 million in acquisition financing for five malls representing more than 4.5 million square feet of retail space across the U.S.
“Despite the continued market volatility and capital market trends, our CRE team was able to deliver lending and capital markets solutions that match our sponsors’ business objectives and priorities,” said Daniel Siegel, president of Stonehill CRE.
The recent Stonehill CRE retail transactions include:
- Bellis Fair Mall – Originating a $24.0 million first mortgage loan for the 774,264 square-foot shopping mall in Bellingham, Washington.
- Cumberland Mall – Originating a $28.8 million first mortgage loan for the 953,313 square-foot shopping mall in Vineland, New Jersey.
- Greenwood Mall – Originating a $42.3 million first mortgage loan for the 970,523 square-foot shopping mall in Bowling Green, Kentucky.
- Livingston Mall – Originating a $42.0 million first mortgage loan for the 970,000 square-foot shopping mall in Livingston, New Jersey.
- The Mall at Robinson – Originating a $25.5 million first mortgage loan for the 874,000 square-foot shopping mall in Pittsburgh, Pennsylvania.
- Town Center at Cobb – Originating a $42.0 million first mortgage loan for the 1.3 million square-foot shopping mall in Kennesaw, Georgia.
“Brick-and-mortar is still a necessary component of a retailer’s multi-channel strategy,” said Siegel. “According the National Retail Federation, traditional in-store purchases still accounted for the majority of retail holiday spending.”
“To remain competitive, owners must accelerate their plans and expand their thinking to find ways to keep their malls relevant in a changing landscape. Stonehill CRE provides needed liquidity for maturing loans, new acquisitions and construction projects,” said Greg Koenig, Stonehill CRE’s senior vice president.
Stonehill, an affiliate of Peachtree Group, launched Stonehill CRE in May 2022 and expects to deploy approximately $500 million of capital in 2023.
Stonehill, a direct lender, is actively providing permanent loans, bridge loans, mezzanine loans and preferred equity investments secured primarily by hotel assets. Founded in 2013, Stonehill provides creative finance solutions for acquisitions, recapitalizations, refinancings and renovations and has completed more than 400 transactions totaling over $4.5 billion. The principals of Stonehill have combined to originate, structure or purchase over $10.0 billion of debt. For additional information, please visit www.stonehillsc.com.
About Peachtree Group
Peachtree is a private equity investment, asset and fund management firm focusing on opportunistically deploying capital across its distinct operating and real estate divisions, including hospitality, commercial real estate lending, residential development, capital markets and media. Since its founding in 2008, the company has completed hundreds of real estate investments valued at more than $8.1 billion in total market capitalization and currently has more than $2.1 billion in equity under management. For more information, visit www.peachtreegroup.com.