U.S. Bank Closes Two Construction Loans Totaling $54 Million for CenterCal, LLC

  U.S. Bank Closes Two Construction Loans Totaling $54 Million for CenterCal,

Business Wire

MERIDIAN, Idaho & UNION GAP, Wash. -- October 25, 2012

U.S. Bank and CenterCal, LLC have closed on the financing of two construction
loans totaling $54 million for the initial development phase of The Village at
Meridian in Meridian, Idaho and Washington Plaza, the newest addition to
CenterCal’s Valley Mall Shopping Complex, in Union Gap, Wash.

U.S. Bank provided a $43 million construction loan for the initial phase of
Village at Meridian, a retail center located at North Eagle Road and East
Fairview Avenue, adjacent to the new 60-acre Julius M. Kleiner Memorial Park.
Tenants include Gordmans, Big Al’s family entertainment center, Marshalls,
Nike Factory Outlet Store, Gap Outlet, Petco, Toys R’Us / Babies R’ Us, and
Pacific Dental.

U.S. Bank has also provided a $10.7 million construction loan for Washington
Plaza, a 120,000-square-foot retail center anchored by J.C. Penney, Cabela’s
Outpost and Famous Dave’s BBQ Shack restaurant. Cabela’s held its grand
opening on October 4, 2012, followed by the grand opening of Penney’s the
following day.

“U.S. Bank is working with customers like CenterCal in cities all over the
country to get the economy moving,” said Ann Young, commercial real estate
manager for U.S. Bank in the Pacific Northwest. “We are proud to partner with
CenterCal on these projects, and consider CenterCal to be a highly-respected
real estate company that develops and maintains quality projects for the long

“U.S. Bank has been a great lender on our development as we execute
significant projects in the current environment,” said Jean Paul Wardy,
president of CenterCal, LLC.

CenterCal, LLC is a full-service commercial real estate company specializing
in the development, construction, property and asset management of fine retail
properties throughout the western United States. They have offices in Oregon
and California.

U.S. Bank Commercial Real Estate specializes in providing creative credit and
non-credit financial solutions for real estate developers, REITs, and
commercial property owners across the United States. U.S. Bank offers such
services as construction/development lending, property acquisition lending,
refinancing, lines of credit, and syndications. With an employee base of 400
professionals in 24 offices, U.S. Bank Commercial Real Estate builds long-term
relationships designed to help American businesses grow.

U.S. Bancorp (NYSE: USB), with $352 billion in assets as of Sept. 30, 2012, is
the parent company of U.S. Bank, the 5th largest commercial bank in the United
States. The company operates 3,086 banking offices in 25 states and 5,080 ATMs
and provides a comprehensive line of banking, brokerage, insurance,
investment, mortgage, trust and payment services products to consumers,
businesses and institutions. U.S. Bancorp and its employees are dedicated to
improving the communities they serve, for which the company earned the 2011
Spirit of America Award, the highest honor bestowed on a company by United
Way. Visit U.S. Bancorp on the web at www.usbank.com.


U.S. Bank
Nicole Garrison-Sprenger, 612-303-0731
U.S. Bank Public Relations
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