|Address:||7251 North State Road 7|
|City, State:||Parkland, Florida|
|Property Type:||Retail Shopping Center|
|Square Footage:||61,758 sqft|
|Acquisition Type:||Senior Note|
|Acquisition Date:||October 2011|
The first mortgage secured by Riverstone Shoppes was acquired in October 2011. Riverstone Shoppes was built in 2004 and consists of an approximate 61,758 square foot retail center located in Parkland, Florida. The note, a CMBS loan, was purchased within 10 days of contract. Shortly after closing on the note, financing for approximately 50 percent of the note purchase price was obtained and the non-performing loan was restructured with the existing borrower.