CBRE Capital Markets’ Debt & Structured Finance team has successfully arranged a $16.5 million loan to refinance Westbury Square, a 117,689-square-foot neighborhood shopping center in Huntsville, Alabama.

The CBRE team, consisting of Richard Henry, Mike Ryan, Brian Linnihan, and Taylor Crowder, represented Branch Properties, the owner of Westbury Square, which was acquired in March 2018. The loan was provided by Delta Community Credit Union.

“Branch Properties has significantly enhanced the value of Westbury Square since acquiring it, securing multiple new and renewed leases that have strengthened the center’s financial profile,” said Richard Henry, senior vice president at CBRE. “The competitive nature of this refinancing reflects the strong demand among lenders for high-quality retail assets backed by top-tier ownership.”

Westbury Square is currently 98.5% leased, featuring 20 tenants, including major retailers like T.J. Maxx, Ross Dress for Less, and pOpshelf.

Located in the South Huntsville submarket, the second-largest retail submarket in the city, Westbury Square is part of a area with over 5.7 million square feet of retail space and a low vacancy rate of 3.1%.

Across Huntsville, the retail market totals 28.3 million square feet, with a vacancy rate of 2.8%, remaining below 3.0% since 2021.