CHICAGO (November 2, 2017) – Cohen Financial, a division of SunTrust Bank and a national real estate capital services firm, announced today that Dan Rosenberg, Managing Director, and Matt Terpstra, Vice President in the Chicago office, secured $13.028 million for the acquisition of Towne Center in Murfreesboro, Tennessee. The property is a 108,000 square-foot retail center located along Interstate 24, a major highway connecting Murfreesboro to downtown Nashville. The anchor tenant is TJ Maxx, and the property is shadow-anchored by Lowe’s and Target.
Cohen Financial secured a fixed- rate loan with Morgan Stanley. The borrower is an affiliate of St. Louis, Missouri-based Integris Ventures, a commercial real estate investment firm specializing in retail and office properties across the United States. Integris is a longtime Cohen Financial client.
“This is a very attractive, stabilized retail center located southeast of Nashville in the thirteenth fastest growing city in the U.S.,” said Rosenberg. “Many lenders were interested in this transaction due to Towne Center’s strong location, anchor and the market’s outstanding demographics.”
Murfreesboro is close to major employers in the Nashville area and offers a low cost of living. Towne Center is located on Old Fort Parkway, the main thoroughfare that runs through Murfreesboro.
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