Churchill Commercial Capital Arranges $8.5 Millon Acquisition Loan

Press Release
For Immediate Release
June 6, 2007

Contact: Cynthia A. Hammond
Churchill Commercial Capital, Inc.
Phone: 602-748-1500
Email: CHammond@ChurchillCC.com

Green Valley, Arizona — Cynthia A. Hammond and Karl A. Abert of Churchill Commercial Capital, Inc. have arranged an $8.5 million loan secured by Green Valley Mall, a 173,358 square foot shopping center. Churchill Commercial Capital arranged the financing for an entity controlled by Holualoa Arizona Inc. through it loan correspondent, Advantus Capital Management. The non-recourse loan closed concurrent with Holualoa’s purchase of the 65% leased property. Green Valley Mall is located 30 minutes south of Tucson off of Interstate 19 in the master planned retirement community of Green Valley, Arizona. Green Valley Mall is the original shopping center developed in Green Valley, and is comprised of retail and office uses in an open air plaza setting. Holualoa plans various improvements the center, which are anticipated to improve the property cash flow. The loan was structured with a five year term and a five year extension option, to allow for a possible loan increase once the property has reached stabilized occupancy. The loan closed concurrent with the property acquisition, seven weeks from the signing of the loan application. The purchase price was $12,950,000.

Churchill Commercial Capital is an Arizona based commercial mortgage banker who represents nineteen lenders actively placing debt and equity in commercial and multifamily properties. This loan represented the 24th loan placed by Churchill for Holualoa.