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Deerwood Closes $7.7M Refinance Loan for Atlanta Shopping Center

NEW JERSEY—Deerwood Real Estate Capital, based in Englewood Cliffs, has closed on a $7.7 million loan to refinance a 36,000-sq.-ft. retail center in Atlanta, Ga. The property was 100 percent occupied by national and local tenants at the time of closing.

Deerwood was able to get the borrower a $2 million cash out above the existing loan, locking in on a 10-year non-recourse loan with a 30-year amortization at a competitive rate.

Closed in under 45 days, Joe Hercenberg negotiated the deal on behalf of Deerwood.

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