Churchill Commercial Capital Arranges $27,000,000 Million Refinance Loan

Press Release
For Immediate Release
September 17, 2007

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

Tucson, Arizona — Elizabeth Ganz and Cynthia Hammond of Churchill Commercial Capital, Inc. have arranged a ten year, $27,000,000 million non-recourse loan secured by Tucson Place, a 273,496 square foot shopping center located at the northwest corner of Wetmore and 1st Avenue in Tucson, AZ. Major tenants include Wal-Mart, Best Buy and Office Max. Churchill Commercial Capital arranged the financing which was funded by its life insurance company loan correspondent, AIG on behalf Larsen-Baker of Tucson, AZ. Despite turmoil in national credit markets, this loan was closed smoothly, with the interest rate being fixed in late June, and the with the loan closing in early September without any changes to the applied for loan terms. The loan refinanced existing debt which was defeased concurrent with the AIG loan closing. The loan will be locally serviced by Churchill Commercial Capital.

Churchill Commercial Capital is an Arizona based commercial mortgage banker who represents nineteen lenders actively placing debt and equity in commercial and multifamily properties.