Capetown Retail Plaza
The Plaza's Rte. 132 address situates the center across the street from the Cape Cod Mall. This center has great historical occupancy financial performance.
Anchored by K-Mart and Filene's Basement, the plaza was built in 1969 and totals over 237,000 s/f.
The $12.25 million loan is approximately 55% of value. Jennifer Caruso and Max Rans of iCap's Boston office placed the loan with an international bank that iCap has a strong lending relationship with. Some of the challenges this loan presented were a ground lease with only 16 years remaining and a dark anchor.