JLL Capital Markets secured acquisition financing for an 11-property, 1,500,000-square-foot retail portfolio, consisting of repurposed and upgraded former Sears retail assets spread across eight states in the central U.S. JLL represented an affiliate of Fidelis Realty Partners as the borrower, to secure a loan through Symetra Life Insurance Company. Financial terms weren’t disclosed.
The portfolio is 90% occupied, and notable tenants include Nordstrom Rack, Ulta Beauty, Total Wine, Dick’s Sporting Goods, Five Below, HomeGoods, The Dump, At Home, Ross, Dollar Tree and Best Buy.
It includes the following:
- Poplar Commons in Memphis
- West Towne Mall in Madison, WI
- Belden Village in Canton, OH
- Sherwood Plaza in Springfield, IL
- Central Park Shopping Center in San Antonio
- Southridge Mall in Greendale, WI
- Glenbrook Square in Ft. Wayne, IN
- Lombard Shopping Center in Lombard, IL
- El Paso Shopping Center in El Paso
- Kearney Shopping Center in Kearney, NE
- Phoenix Shopping Center in Phoenix
The JLL Capital Markets Debt Advisory team included senior managing director Colby Mueck, directors Michael King and Christopher Knight and analyst Jack Britton.