In August 2016, Emerald Creek Capital provided a $12,000,000 acquisition loan in Washington, PA. This loan enabled the borrower to purchase 532,832 SF of retail space within the 672,918 SF Washington Crown Center, a regional mall built on 94 acres.
With over 60 tenants, the Washington Crown Center boasts occupancy in excess of 93%. Washington Crown Center is anchored by Gander Mountain, Sears, The Bon Ton, Hollywood Theaters, Ross, and Marshalls.
Other notable tenants include Jo-Ann Fabrics, Ulta Salon, Shoe Dept. Encore, and Victoria Secret. With a hard deposit down and less than 30 days to close, the borrower turned to Emerald Creek Capital for certainty of execution.
For more information, please contact:
Jeff Seidler, Managing Director