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8.31.2007
Capital Pacific Overcomes a Surplus of Obstacles to Close Roseburg Valley Mall
 In the midst of upheaval in the debt markets, Capital Pacific is pleased to announce the closing of the Roseburg Valley Mall in Southern Oregon. Capital Pacific was able to overcome a surplus of obstacles and closed the transaction within 2.5% of the initial offering price.
- The two anchors, Macy’s and Sears who occupy over 50% of the rentable square footage, had less than 5 years remaining on their lease term.
- While under contract, a pad tenant filed Chapter 11 and vacated the premises without notice.
- A portion of the Property was located on a relatively short ground lease.
- Prior to the peak of the turmoil in the debt market, Capital Pacific was able to steer the buyer towards bank financing versus a conduit or life insurance lender which allowed the deal to close without interruption.
- Additionally, the Property was an enclosed mall located in a tertiary market, with deferred maintenance and competition from newer construction.
National tenants included Macy’s, Sears, Rite Aid, US Bank and Payless Shoesource.
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