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Deal of the Week: Grocery-Anchored Retail in Mesa, Arizona

Photo courtesy of Michael Klein from Freedom Financial Funds
Northpoint Shopping Center was built in 1987 and has 113,018 s.f. of net rentable area. The deal included a senior bridge loan with a construction draw. This loan funded the first of three acquisitions as a part of a 1031 exchange. While this property and the second of the three are in escrow and have certain closing dates, the third property has been a part of a litigation that may or may not be settled in time to qualify for the exchange. The solution was to put the equity component for the third property into the first property loan and make that money available for the third if and when it closes. More

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Sara Havlena

Havlena is the editor-in-chief of Crittenden Real Estate magazine and The Crittenden Report: Real Estate Financing, Retail Tenants Report and the Multifamily Report and their respective websites. She has been an editor with Crittenden since 2007 and worked on a variety of real estate publications during her time at the company covering a wide range of topics from restaurant expansion to real estate developers. She has been the lead reporter and editor of Crittenden’s flagship publication, The Crittenden Report, since 2011. She has a degree in Print Journalism from Cal State Fullerton, and resides in Orange County, Calif.

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