Natixis backs New Jersey retail centers

Natixis Real Estate Capital provided a $36.65m, 10-year, fixed-rate CMBS loan to a venture led by Thomas Maoli to refinance Mendham Village Shopping Center and Del’s Village Shopping Center located in Mendham and Boonton, New Jersey, respectively.

Natixis Real Estate Capital provided a $36.65m, 10-year, fixed-rate CMBS loan to a venture led by Thomas Maoli to refinance Mendham Village Shopping Center and Del’s Village Shopping Center located in Mendham and Boonton, New Jersey, respectively.

600x450The loan, arranged by David Horowitz of Cooper-Horowitz in New York, was structured as two stand-alone mortgages to ensure that the borrower could maintain flexibility with each of the assets, Natixis said in a statement.

The Mendham Village Shopping Center is 100% occupied retail center anchored by King’s Super Market with 80,000 sq ft leased to 26 tenants. Del’s Village Shopping Center, also fully leased and anchored by King’s Super Market, is made up of 14 tenants across 46,800 sq ft of space.  

In one noteworthy recent deal, last month Natixis provided a $315m loan to Savanna for the refinancing of One Court Square, aka the Citigroup Building, in Long Island City, Queens. 

Back in March, along with German American Capital Corporation, Jefferies LoanCore and UBS Real Estate Securities, Natixis contributed 14 of the 67 loans to the COMM 2015-DC1 CMBS deal. Natixis securitized $274.8m in loans on that deal. Fitch Ratings had noted that the deal carried significantly  high leverage.

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