Cincinnati Tri-County Mall Acquisition
StackSource SVP of Business Development Beth Mercante and Capital Advisor Zach Wagner helped arrange short-term bridge financing for the purchase of Tri-County Mall, located in Springdale, OH with a quick close in under 3 weeks. The $28 million acquisition loan enables MarketSpace Capital and Park Harbour Capital to embark on the $1 billion redevelopment of the property. “MarketSpace Capital has been a wonderful client for years and being able to pull together the financing for them in a very short time was very important to us," said Beth Mercante. "We are excited for the future phases in this important project to the City of Springdale and are already working on the next phase of financing!”
The Tri-County Mall Redevelopment project is now set to begin construction late 2022. The 76-acre site project is anticipated to be completed over five phases in a span of 10 years. The project will include new multifamily housing apartments, retail space, restaurants, educational facilities, entertainment, and recreation areas, including a fitness center. The Tri-County redevelopment will transform Greater Cincinnati's largest shopping mall into one of the premier mixed-use developments in the state.