JLL arranges financings for Lewandowski Commons & grocery-anchored portfolio

MORRISTOWN, NJ — JLL Capital Markets has secured $71.3 million in acquisition financing across two separate transactions for Medipower Group: Lewandowski Commons in New Jersey and a six-property portfolio spanning the Southeast.

JLL represented Medipower Group in arranging financing for Lewandowski Commons through Protective Life and for the SEZ Retail Portfolio through Nationwide.

The financing package includes financing for Lewandowski Commons, a 77,743 s/f grocery-anchored center in Lyndhurst, NJ, and for a six-property portfolio spanning Myrtle Beach, SC; Virginia Beach, VA; and four properties throughout the Atlanta metropolitan area. The Southeast portfolio comprises Hickory Flat Village in Canton (74,020 s/f), Deshon Plaza in Stone Mountain (64,055 s/f), Flat Shoals Crossing in Decatur (69,699 s/f), Cascade Corners in Atlanta (66,844 s/f), The Plaza at Carolina Forest in Myrtle Beach (114,237 s/f) and Kroger Plaza in Virginia Beach (67,540 s/f).

JLL Capital Market’s Debt Advisory team was led by Jim Cadranell, Jon Mikula, Gregg Shapiro, Hunter Goldberg, Kelsey Bawcombe, Streeter Simmons and Caleb Henry.

According to Cadranell, “These two transactions reflect strong lender confidence in high-quality, grocery-anchored retail assets with exceptional fundamentals. The combination of investment-grade and best-in-class regional grocers, strong sales performance, minimal capital requirements and strategic locations in high-barrier-to-entry markets made these attractive opportunities for both Protective Life and Nationwide.”

“These properties benefit from durable income streams, with nearly half of revenue derived from grocers operating at low occupancy costs and demonstrating consistent sales growth. The financing structure provides Medipower with the flexibility to execute their business plan across these institutional-quality assets in premier markets,” Shapiro added.