The Journal Record Business Briefs: March 7, 2012

Article excerpt

Kennedy closes note purchase on Mustang retail centerMUSTANG - Kennedy Funding Inc. of Englewood Cliffs, N.J., has closed on a $2.8 million note purchase on Silver City Town Center in Mustang.Kennedy purchased the note of a nonperforming loan in the original amount of $3.5 million for the 88,999-square-foot retail center on 10.3 acres. The loan purchaser was a limited liability company and the loan borrower was Silver City Town Center LLC. Under the terms of the transaction, Silver City Town Center LLC has been granted the option to repurchase the loan.Constructed in 1976, the property was acquired by Silver City Town Center LLC from its original owner in 2007. The retail center is 55 percent occupied. The anchor tenant is Tractor Supply Co. Other tenants include the Salvation Army, The Vine, and UrgentCare. Taco Bell and KFC occupy company-owned out- parcels.- Staff reportAcadia buys Ada psychiatric hospitalADA - Acadia Healthcare Co. has completed its acquisition of three inpatient psychiatric hospitals, including one in Ada, from Haven Behavioral Healthcare for $91 million in cash.The other hospitals are in Tucson, Ariz., and Wichita Falls. They contain a total of 166 acute inpatient psychiatric beds.Acadia anticipates that the acquisition will add about 20 cents to 22 cents per share to its annualized earnings.The Franklin, Tenn., company also said that it is expanding its senior secured credit facility by $70 million. This includes adding $25 million to the facility's term loan and adding $45 million to its revolving credit line. The facility matures April 1, 2016.Acadia operates a network of 32 behavioral health facilities with more than 2,100 licensed beds in 19 states.- Staff reportDevon Energy declares dividendOKLAHOMA CITY - Devon Energy's board of directors has declared a quarterly cash dividend of 20 cents per share for the second quarter.The dividend is payable June 29 with a record date of June 15.- Staff reportEndangered places to be announcedOKLAHOMA CITY - Preservation Oklahoma Inc. will announce the Oklahoma's Most Endangered Historic Places list for 2012 at an event at 6 p.m. March 29 at the Oklahoma Supreme Court Building.Preservation Oklahoma has recognized historic sites across the state at risk of demolition or deterioration since 1993."The Endangered Historic Places List is an effort to raise awareness about historic sites and preservation issues, but has also been a powerful mechanism for saving significant buildings," said Katie McLaughlin Friddle, Preservation Oklahoma executive director. "We hope that sites on this year's list will benefit from the attention garnered, and that Oklahomans will benefit from learning about the diverse pieces of our state's history represented."This year's presentation of the Endangered Historic Places List will include a reception and silent auction, with proceeds benefiting the programs of Preservation Oklahoma. …


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