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Long Island Business News

Two LI Centers Get $9Million of Financing

The owner of two retail properties in Nassau County has secured $9 million in refinancing.

Greenwich, Conn.-based Sanders Equities received the seven-year balance sheet loan for its Village Square shopping center in Massapequa and its Hyde Park Plaza shopping center in New Hyde Park.

Renovated in 2012, the 43,000-square-foot Village Square is located at the corner of Merrick Road and Hicksville Road and is anchored by Uncle Giuseppe’s grocery store. Other tenants include Starbucks, Verizon Wireless and Jenny Craig.

The 19,888-square-foot Hyde Park Plaza is located on the corner of Hillside Avenue and Marcus Avenue. Tenants there include Boston Market, Supercuts and H&R Block.

The financing was arranged by Bryan Kallenberg of Manhattan-based Meridian Capital Group.

“Sanders Equities needed to refinance their existing loans and was also seeking to expand its financing relationships within the local banking community without transferring their operating account to a new lender,” Kallenberg said in a company statement.

Founded in 1999 by Arthur Sanders, Sanders Equities owns, manages and has interest in more than 2 million square feet of industrial, multifamily, retail, office and mixed-use property throughout Nassau and Suffolk counties.