Maryland Mixed-Use Project Scores $135M Loan

Law360, New York (December 20, 2011, 1:58 PM EST) -- Real estate developer Greenberg Gibbons Commercial and a fund managed by Prudential Real Estate Investors have secured a $135 million loan from HSBC Bank to refinance construction debt on part of a 2.2-million-square-foot project in Annapolis, Md., the parties said Tuesday.

CBRE Group Inc.'s Capital Markets Debt and Equity Finance division arranged the seven-year loan for the$500 million project, called Annapolis Towne Centre at Parole.

The overall development includes about 620,000 square feet of retail property, anchored by a Whole Foods and a multistory Target; 40,000...
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