Cutwater Capital has closed on a $12.8 million refinancing of a Walmart Neighborhood Market and Fuel Center anchored retail center in Orlando. The 156,377 square foot asset, Adanson Marketplace, recently underwent a total renewal that included updating the façade, storefronts, sidewalks, landscaping and parking areas. Situated on 14.7 acres at 902-1028 Lee Road, the center includes national and regional tenants, including Dollar Tree, Sam Ash Music Store, Metro PCS, McDonald’s and La Spada’s Subs. Holliday Fenoglio Fowler worked on behalf of Cutwater Capita to place the loating-rate loan with Iberia Bank. Loan proceeds will be used to pay off an existing loan and provide capital for future leasing. The HFF debt placement team was led by senior managing directors Michael Weinberg and Brad Peterson. “Despite all the headlines about the downfall of retail, there is still plenty of debt capital out there for grocery-anchored and necessity-based shopping centers like this one,” Weinberg said.
