Capstone acquired a discounted note that was secured by a 550,383 SF of big box retail located in Boardman, Ohio.
The big box center was acquired in 2007 for $30.8M; the borrower subsequently defaulted on their loan.
Tenants in the center include Save-A-Lot, Ollies Michael’s, Burlington Coat, Planet Fitness, US Postal Service and numerous other big box tenants.
Capstone recapitalized the center in a 50/50 partnership with the prior owner and secured new first mortgage financing.
Realized Deal IRR
Realized Deal EM
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