In 2025, JDI Realty provided a bridge loan to a seasoned sponsor acquiring a 558,638-square-foot power center in Elmira, New York, anchored by Tops grocery, TJ Maxx, and Sam’s Club, facing Interstate 86 in the state’s southern tier. This bustling retail hub, boasting over 94% occupancy, serves a key corridor between Erie, Pennsylvania, and New York, with strong tenant performance driving consistent revenue. The sponsor, known for splitting property interests, has structured a 99-year escalating ground lease, with JDI financing the ground lessor’s position to enable a swift closing. Located in a thriving market, the center’s prime visibility and established anchors make it a standout asset. JDI’s loan supports the sponsor’s strategy to refinance through a securitized loan within a year, leveraging the property’s robust financial health and strategic position.
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