Michigan-based commercial real estate finance company Red Oak Financial has provided a $9.6 million bridge loan to refinance the Village Festival Shopping Center in Roswell.
The multi-tenant retail center is located at 10930 Crabapple Rd. and sits on nearly seven acres. The center contains a total of 56,921 square feet across two, one-story buildings. The property is the last major retail center at the intersection of Woodstock Road and is connected to historic downtown Roswell.
The borrower, Phoenix Ten Properties, has a series of renovations planned at the center to introduce a variety of shopping, dining and event options at the property which will cater to family and working professionals.