A joint venture managed by Federal Realty Investment Trust secured $73.25 million in permanent financing for the Chandler Shopping Center Portfolio, consisting of two shopping centers in the Phoenix Suburb of Chandler, Ariz.
The Chandler Shopping Center Portfolio encompasses 616,639 square feet of retail along Chandler Boulevard. Chandler Festival spans 354,548 square feet and features major tenants including TJ Maxx, Ross Dress For Less, Nordstrom Rack and PetSmart. Chandler Gateway spans 262,091 square feet and is anchored by Walmart and Hobby Lobby. The properties are situated adjacent to SR-101 and Price Road, providing strong connectivity to the greater Phoenix metro area with high-volume traffic counts of 177,271 vehicles per day.
JLL represented the borrower in securing the five-year, fixed-rate loans through a national bank. The financing was structured as one loan secured by two mortgages: $51 million for Chandler Festival and $22.25 million for Chandler Gatew
