BWE, a national commercial and multifamily mortgage banking company, announced today that it has secured first mortgage financing to fund the acquisition of Gaitway Plaza, a high-performing shopping center in Ocala, Florida.
Dan Rosenberg, executive vice president in BWE’s Chicago and Boca Raton offices, together with senior vice president Maxx Carney, senior analyst Logan Petersmeyer, and analyst Bella Barrios, originated the financing from a life insurance company on behalf of Next Realty, a leading owner and operator of retail properties across the country. In addition to full term interest-only payments, the loan features a very favorable interest rate.
“When Next Realty approached us to finance the purchase of Gaitway Plaza, we ran a competitive process, and with the combination of a growing market and stellar property performance, we were able to source and a deliver a very competitive financing solution for our client,” said Rosenberg. “Whether it’s in the retail sector or elsewhere, BWE is committed to using our comprehensive array of capital sources to find our partners the right financing product to execute on their business plans.”
Strategically located at the heart of one of Ocala’s busiest intersections and near the I-75 interchange, the 209,028 square foot Gaitway Plaza is currently 100% with a strong array of anchor tenants, including national brands such as T.J. Maxx, Ross Dress for Less, Golf Galaxy, Michaels, and Office Depot. As a result, the center is one of the most visited retail centers in the entire Ocala area.
Ocala sits in the heart of Marion County, Florida, one of the fastest growing counties in the entire nation. Thanks to its central location and cost-effective environment for both residents and businesses, the city and county are poised to grow even further, positioning Gaitway Plaza to be a high-performing retail center well into the future.