$23.5M refinancing secured for Elmont retail complex

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By Dan Sears

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The Feil Organization has completed a $23.5 million refinancing of a retail property in Elmont. 

The Manhattan-based company refinanced its 269,490-square-foot Home Depot Shopping Center on 21 acres at 600 Hempstead Turnpike. The retail complex, which Feil has owned since 1992, is fully occupied with tenants that include Home Depot, Marshalls and Target, according to a company statement. 

The refinancing was provided by Principal Asset Management, which is headquartered in Des Moines, Ia. The Feil Organization was represented by Estreich & Company in the loan transaction. 

“We are pleased to have secured this refinancing for Home Depot Shopping Center alongside a strong sponsor,” Brian Feil, principal at the Feil Organization, said in the statement. “Considering the current state of the lending market, this deal showcases our ability to secure attractive financing and reaffirms the strong appetite for well-located retail properties with great tenants in Nassau County.” 

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The Feil Organization has a portfolio totaling more than 24 million square feet of industrial, office and retail properties, over 5,000 residential properties, and thousands of acres of undeveloped land across the U.S., according to the company. 

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