 JLL Capital Markets arranged $73.25 million in permanent financing for the Chandler Shopping Center Portfolio, consisting of two shopping centers in Chandler, Arizona.
JLL represented the borrower, a joint venture managed by Federal Realty Investment Trust, in securing the five-year, fixed-rate loans through a national bank. The financing was structured as one loan secured by two mortgages: $51 million for Chandler Festival and $22.25 million for Chandler Gateway.
The Chandler Shopping Center Portfolio encompasses 616,639 square feet of retail along Chandler Blvd. Chandler Festival spans 354,548 square feet and features major tenants including TJ Maxx, Ross Dress For Less, Nordstrom Rack and PetSmart. Chandler Gateway spans 262,091 square feet and is anchored by Walmart and Hobby Lobby. The properties are situated adjacent to SR-101 and Price Rd.
JLL Capital Market’s Debt Advisory team representing the borrower was led by Kevin MacKenzie, Jon Mikula, Jason Carlos, Quin Madden and Tyler Naughten.
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