Wool Finance Partners has arranged a $7.9 million Construction Loan for the development of a Publix grocery anchored, neighborhood shopping center located in Mobile, AL. The development is a JV between MAB American Retail Partners, LLC, a Charlotte based Retail Developer and Oak Brook based, Inland Retail Centers, LLC.

Located in the Midtown submarket of Mobile, AL, the development upon completion will consist of six, one-story multi-tenant retail buildings that will contain roughly 62,000 square feet of rentable area including a free standing 39,000 SF Publix grocery store.

The Non-Recourse Construction loan was structured with a 24 month term, with an extension option. The loan amount was based upon a loan to cost ratio of 55%. The lender was a Regional Bank with offices in Chicago.