JLL’s Capital Markets experts today announced the firm secured $13.25 million in refinancing for the Forum at Soncy, a 64,914-square-foot, Class A retail center in Amarillo.

Managing Director Jimmy Board and Associate Jarrod McCabe led JLL’s team on the financing on behalf of GRACO Real Estate Development Inc. Deutsche Bank provided the 10-year, fixed-rate loan with a low, 4 percent interest rate with a few years interest only. 

“The Forum at Soncy has attracted and retained several credit-worthy national tenants and remained at or above stabilized occupancy over the last ten years, making it both a regional retail destination and a desirable lending opportunity,” said Board.

Located at the intersection of 34th Avenue and Soncy Road, the Forum at Soncy is at the heart of Amarillo’s main retail corridor, which includes the Westgate Mall. The Forum at Soncy and other nearby retailers attract commuters from surrounding areas seeking amenities not found in the region’s smaller markets. The retail center also benefits from proximate neighborhoods, including The Colonies of Amarillo master-planned community, and a population of more than 115,000 within a 5-mile radius.

The shopping center is currently 93 percent leased to a strong line-up of national credit-worthy tenants including Cost Plus World Market, Guitar Center, Kirkland’s, Lane Bryant, Chico’s, Joseph A. Bank Clothiers, Justice, Pei Wei, FedEx Office and Complete Nutrition.