Sonnenblick-Eichner Lines Up $28M Refi for Retail Stores

ShopKo’s stores are located in Bend, Eugene and Salem, Ore.
ShopKo, Eugene, Ore.
ShopKo, Eugene, Ore.

Portland, Ore.—Sonnenblick-Eichner Co. has secured $28.1 million to refinance ShopKo stores located in Bend, Eugene and Salem, Ore.

ShopKo is a chain of Ashwaubenon, Wisc-based retail stores, founded in 1962 by James Ruben. Its first store opened in Green Bay, Wisc., and the company operates more than 360 stores in 25 states.

Located at the dominant intersection within their respective trade areas, the retail properties are adjacent to the Bend River Promenade Mall, which is anchored by Macy’s, Kohl’s and T. J. Maxx. ShopKo Eugene is located on Coburg Road at Beltline, and ShopKo Salem is located at the South Lancaster interchange and Interstate-5.

“The non-recourse, 10-year financing price was below 5 percent and replaces a maturing long-term loan,” said Sonnenblick-Eichner Co. Principal Elliot Eichner.

Sonnenblick-Eichner specializes in arranging structured finance for acquisition, construction and permanent loans, interim and mezzanine financing, as well as joint venture equity transactions. Recently, Sonnenblick-Eichner also secured a $41 million loan for Eastlund Hotel, a 168-key hotel in Portland.

Image courtesy of Sonnenblick-Eichner