Wharton Gladden Closes $12 Million Acquisition Loan for Harris Teeter
Algenon Cash, managing director of investment banking group Wharton Gladden & Company, announces today the firm has closed a $12 million debt and equity facility secured by a Harris Teeter anchored retail center in Charlotte, NC.
Wharton Gladden advised the sponsor, developed a capital structure, underwrote the debt facility, and secured a private equity capital partner to provide the mezzanine debt.
The grocery anchored retail center was stabilized with less than 5% of total space vacant. Wharton Gladden secured the capital needed to acquire the asset, which included a CMBS permanent loan with mezzanine debt to push the combined leverage higher.
According to Cash, “Wharton Gladden is highly experienced in providing structured financial solutions to help our clients successfully close complex transactions.”
About Wharton Gladden & Company:
Wharton Gladden & Company is a uniquely designed boutique investment banking firm that specializes in providing strategic advisory services, underwriting, capital placement and private equity for a diversified client base that includes corporations, real estate developers, financial institutions, investors, municipalities and high net worth individuals.