Real Estate Journal — Pennsylvania — February 8 - 21, 2019 — 13C


M id A tlantic

P ennsylvania

Loan offers an initial two-year interest only period Duquesne Commercial Funding arranges $11.9M


HILADELPHIA, PA — Duquesne Commer- cial Funding announc-

es the suc- cessful clos- ing of $11.9 million in a portfolio re- finance loan for 23 Dol- lar General stores locat- ed through- out Illinois and Indiana. Twelve of the properties in the portfolio are in Chica- go and eleven are in India- napolis. The CMBS

Gerard O’Malley

Dollar General

mercial Funding. “Thanks to our strong relationships across the country, we were able to successfully negotiate an at- tractive rate and terms for our client, and seamlessly close on the loan for all 23 Dollar Gen- eral properties.” “While there is always a con- sistent demand from lenders for strong credit tenants such as Dollar General, the right struc- ture for the loan isn’t a given,” said Tim McGinley , director of business development. “After a conversation with our client about their short and long-term objectives, we structured the loan with an initial two-year managing partner Jona- than Spergel said, “It has been a pleasure observing first-hand Diana’s incredible work ethic and growth as an attorney since she began her legal career with our firm in 2011. She has made sig- nificant contributions to our firm’s litigation practice, in- cluding playing a prominent role over the past several years on a major high-profile litigation matter. We are

interest-only period and a 10- year fixed rate over a 30-year amortization period. This gives our client greater flexibility with the opportunity to manage and maximize their cash flow in the short-term while offering stability in the longer term.” “With the ongoing conversa- tion of a rising interest rate en- vironment, now is a great time to refinance,” added O’Malley. “Capital is looking for place- ment but it is essential to not only source capital, but also create the right structure to meet the client’s objectives, whether that is for one property or 50.”  Silva concentrates her practice in environmental litigation, including statu- tory contribution and cost recovery actions, toxic tort claims, and administrative enforcement actions. She also counsels clients on en- vironmental regulatory com- pliance matters as well as permitting related to land development issues.  thrilled to have Diana join our partnership.”

Tim McGinley

non-recourse loan offers an initial two-year interest only period, with a 10-year fixed rate and a 30-year amortiza- tion period. The fixed rate was locked at an attractive 205 basis points over the 10-year swap. “With 23 retail properties in two states, our primary goal was to achieve a seamless transaction for our client,” said Gerard O’Malley , managing partner at Duquesne Com- ronmental, energy and l a n d u s e l a w f i r m of Manko, G o l d , Katcher & Fox, LLP (MGKF) , lo- cated in the Philadelphia region. MGKF Diana Silva PHILADELPHIA, PA — Diana Silva has been pro- moted to partner at the envi-

Manko, Gold, Katcher &Fox, LLP names Silva Partner

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