SOURCE: Centre Properties

Centre Properties

October 16, 2012 10:44 ET

Centre Properties Completes Loan Renegotiation

INDIANAPOLIS, IN--(Marketwire - Oct 16, 2012) - Indianapolis-based Centre Properties and C-III Capital Partners have completed the renegotiation of Centre's CMBS loan on a package of five multi-tenant retail centers. The centers, which total 934,000 square feet, are located in the greater Indianapolis area. 

This marks the largest of Centre's successful renegotiations with nine different institutional lenders since the beginning of the Great Recession. These renegotiations are in addition to Centre's routine financing activities for the majority of its projects. Centre's efforts to renegotiate the terms of this five-property loan is the latest in a year marked with the firm seizing new development and redevelopment opportunities. These efforts position the firm for growth as the retail real estate sector continues to rebound.

About CENTRE Properties

CENTRE Properties is a regional real estate firm with expertise in the development and management of retail properties. The company was founded in 1985 by Craig W. Johnson and James F. Singleton. Since that time, CENTRE Properties has developed, owns, and manages more than 2.2 million square feet of retail space at prime locations in the Indianapolis metropolitan area.

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