Elmsford, NY – DLC, one of the nation’s largest owners, operators, and managers of retail real estate, has announced the successful refinancing of Loch Raven Plaza in Towson, MD. The refinancing resulted in a multimillion-dollar cash-out, repatriating significant capital to investors and beginning a relationship through our first transaction with TruStage (CUNA Mutual Group), a live insurer.
DLC has been successfully transforming Loch Raven since acquiring it in 2003. Through leasing and redevelopment, attracting numerous national tenants such as Aldi, Autozone, Dollar Tree, and BioLife Plasma among others, DLC has more than doubled the center’s net operating income (NOI), highlighting its successful value creation efforts.
“Completing this refinancing with TruStage as we add additional relationship lenders in a time of significant emphasis on Retail Real Estate, speaks to the strength of DLCs capital markets relationships and expertise.” said Adam Ifshin, Founder and CEO of DLC. “Our team has worked diligently to source new sources of debt while we continue to add high-quality retailers to the center and create value for our tenants, the community, and our investors. This refinancing reflects the strength of our portfolio and the success we’ve had at Loch Raven. This is DLCs 10th refinancing in the last 12 months, all completed with new and repeat relationship lenders.”
About DLC
DLC is a company driven by a strong culture and entrepreneurial foundation. It has grown to be one of the nation’s largest and most sought-after privately held owners, operators, and managers of open-air retail shopping centers. DLC has expertise in acquisitions, new developments, redevelopments, leasing, and management.
