Gantry has arranged a $12 million, low-leverage permanent loan to refinance maturing debt on Rock River Plaza, a large retail power center in Moline, Illinois. The property totals 389,375 square feet and is a dominant retail destination in the area, serving the broader Quad Cities trade area.
Rock River Plaza is anchored by major national retailers Walmart and Lowe’s, supported by an additional lineup of national brands. Other tenants at the center include Marshalls, Five Guys, Chick-fil-A, Applebee’s, and AT&T, underscoring the center’s focus on creditworthy national chains. The property is positioned on John Deere Road with convenient connectivity to Interstate 74, providing strong regional access and visibility for both anchor and inline tenants.
The refinancing replaces existing debt that was approaching maturity, with the new structure designed as a permanent, fixed-rate loan. The financing is characterized as low leverage and non-recourse, with full-term interest-only payments, aligning with the sponsor’s objective to maintain conservative capitalization while stabilizing the capital stack over the near term. The loan carries a five-year term and was executed through a CMBS lender drawn from Gantry’s established network of capital providers.
Gantry’s team from the firm’s St. Louis production office led the transaction on behalf of the borrower, a private real estate investor. Principal Joe Monteleone and Associate Rulin Dai represented the sponsor in sourcing, structuring, and closing the debt. According to Monteleone, the property’s strong and consistent historical performance, supported by a roster of top-tier credit tenants and experienced sponsorship, aligned well with the lender’s appetite for a low-leverage, income-focused financing.
The new CMBS loan extends the ownership’s hold period on Rock River Plaza while addressing an upcoming maturity, and reflects lender willingness to back well-performing, necessity-based retail power centers with long-term, fixed-rate debt. With full-term interest-only payments and non-recourse structure, the financing provides the private investor with predictable debt service and flexibility while preserving cash flow from a heavily trafficked regional retail asset.
