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Uniqlo to open stores in Boston, Philly markets
New York - Uniqlo announced it will enter two new markets, Pennsylvania and Massachusetts, starting this spring. The Japanese apparel giant will open three stores in the Philadelphia market and six stores in the Boston metro area. In addition, Uniqlo will open a pop-up shop at Faneuil Hall Marketplace, Boston, early this summer.
Uniqlo will enter Pennsylvania with three stores in the greater Philadelphia area:
• King of Prussia Mall, King of Prussia (May 16)
• 1608 Chestnut Street, Philadelphia (Oct. 3)
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Berkadia arranges financing for Santa Monica center
New York — The New York office of Berkadia Commercial Mortgage recently arranged $17.5 million in financing for 631 Wilshire Boulevard, a mixed-use property in Santa Monica, California. The borrowers are Pacshore Partners and GreenOak Real Estate.
The two-year loan came through Berkadia’s proprietary bridge lending program. It features two extension options for one year, a 65% loan-to-value ratio and a 75% loan-to-cost ratio.