Tower Capital has arranged $70,000,000 to refinance a 14-property retail portfolio on behalf of Scottsdale-based Arciterra REIT.  The financing, which cross-collateralizes all of the assets, is structured as a $60,000,000 first position loan and a $10,000,000 mezzanine loan. This structure maximized loan proceeds to the borrower, equating to approximately 71% loan-to-value with two years interest only. The portfolio consists mostly of neighborhood strip centers,  many that are shadow anchored by Walmart. The properties are located in Louisiana, New York, Georgia, Colorado, Illinois, Indiana, Iowa, North Carolina, and Texas. These properties were all acquired as value-add opportunities and are now stabilized.