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property finance deals...

  1. 25,108 Posts.
    Excerpt from article: www.costar.com

    Property Finance Deals

    Inland American Real Estate Trust Inc. purchased a $140.8 million "B" note from JP Morgan Commercial Investment Corp. secured by a Centro retail portfolio. Inland paid $130.6 million, a 7.2% discount. The Centro Retail Portfolio consists of 25 shopping centers in 13 states, and totaling 4.47 million square feet. The B note bears interest at a rate equal to the 30 day LIBOR plus 5.4%, equal to 9.326% as of Sept. 30. The loan matures on Oct. 9, 2009, but may be extended for one additional year. The "B" note is subordinate to a $283.2 million senior participation interest currently held by JP Morgan.

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