LOS ANGELES?Wilshire Finance Partners, a commercial real estate lending organization, announced that it provided New Ulm Retail and Development, LLC, Irvine, CA, with a $375,000.00 junior debt toward the purchase of Marktplatz Mall, New Ulm, Minnesota. American Bank of Minnesota carries the senior debt of $700,000.00 to complete the acquisition of $1,075,000 in funds.
The 60,000 square foot mall is anchored by Herbergers, a regional chain of department stores. Marktplatz Mall is the only fully enclosed class "A" mall with subterranean parking in the city. "New Ulm Retail and Development will reposition the Marktplatz Mall to attract new tenants thereby contributing to the diversification and expansion of New Ulm´s retail business sector, enabling existing retail businesses to achieve greater success," according to Thomas OBryon, CEO of Wilshire Finance Partners.
Headquartered in Los Angeles, CA, Wilshire Finance Partners, an asset-based commercial real estate lending institution, is located at 1990 S. Bundy Dr. #630; Los Angeles, 90025. Phone: 866-575-5070; 310-736-1370; www.Wilshirefp.com.
