JLL Arranges Acquisition Loan for The Shops at Worthington Place
Direct Retail Partners, a privately held and operated retail investment rm headquartered in Dallas, has purchased The Shops at Worthington Place in Worthington, Ohio, from a private investor for an undisclosed price. The 139,283-square-foot center at 150 W. Wilson Bridge Road is 92% leased to a mix of national and regional restaurant tenants, including Talbots, Panera, Orvis, Kenneth’s Hair Salon, Aladdins Eatery and Lume Family Eyecare. The property is shadow anchored by Kroger. Spanning 15.7 acres, The Shops at Worthington Place was completed in three phases ending in 2011 and is part of a larger, mixed-use lifestyle center. JLL arranged financing for the acquisition, placing the three-year, floating-rate loan with Bayview Asset Management on behalf of the borrower. The JLL Capital Markets Debt Placement team representing the borrower was led by Managing Directors Mark Brandenburg and Tim Jordan.
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For additional information regarding this transaction, please refer to CoStar COMPS #5017810.