DLC Completes Recapitalization and Refinancing of Arkansas Retail Centers

DLC, a leading private owner and operator of open-air shopping centers, has finalized the recapitalization and refinancing of Spring Creek and Steele Crossing in Northwest Arkansas. Partnering with Cohen & Steers Capital Management, Inc., the transaction involved a $54.75MM purchase with a $37MM loan from Arvest Bank.

Since acquiring the properties in 2014, DLC has significantly increased NOI. The Fayetteville market continues to show high growth potential. The partnership leverages Cohen & Steers' investment expertise.

DLC’s portfolio includes Spring Creek (588,606 SF, anchored by Walmart and The Home Depot) and Steele Crossing (261,665 SF, anchored by Target and Kohl's). Both centers are strategically located near major corporations and the University of Arkansas.