By William Thornton | wthornton@al.com
Revere Capital announced it has funded a $25 million refinancing of Brookwood Village.
In an announcement, Revere said the loan was secured by a first lien on the shopping center, with funds used to refinance the property.
The loan was “a complicated transaction with numerous moving parts,” Sybill Ellis, Revere Capital’s senior vice president said.
“By establishing a good relationship with a very reputable sponsor and broker, and working to overcome issues, we were able to finalize this loan to the satisfaction of all parties,” Ellis said.
Hamilton Realty Finance was the brokerage firm.
Brookwood Village, located on 22 acres between Mountain Brook, Homewood and Vestavia, was built in 1973 and recently underwent a massive $20 million renovation after Cypress Equities bought the 816,000-square-foot mall from the former Colonial Properties Trust in 2015. Anchor tenant Belk closed in 2018.
Requests for comment from Cypress Equities were not immediately returned.