Finance

Pointe-West-Plaza-San-Ramon-CA

San Ramon, Calif. — PSRS has secured a $3.7 million loan for the permanent financing of Pointe West Plaza, a retail property located in San Ramon. The property is a 16,921-square-foot building leased to tenants including a billiards venue, salon, bistro and Chinese restaurant. Jonny Soleimani and Matthew Farzinpour of PSRS secured the five-year financing, which features a 25-year amortization schedule, through a correspondent life insurance company. The firm previously arranged bridge acquisition financing for the property.

0 FacebookTwitterLinkedinEmail
Cross-Creek-Ranch-Malibu-CA

Malibu, Calif. — Pacific Equity Partners has received $135 million in financing for Cross Creek Ranch, a 122,324-square-foot mixed-used property in Malibu. The property features 71,605 square feet of retail space and 50,719 square feet of creative office space. Cross Creek Ranch is adjacent to a Whole Foods Market in the core of Malibu’s shopping district, which also includes Malibu Country Mart, Malibu Village and Malibu Lumber Yard. John Marshall, Spencer Seibring, Allie Black and Tim Donald of JLL Capital Markets secured the five-year loan through Torchlight Investors on behalf of …

0 FacebookTwitterLinkedinEmail
Camelback-East-Shops_Phoenix

Phoenix — JLL Capital Markets has secured a $5.3 million loan for the refinancing of Camelback East Shops, a 25,129-square-foot retail center located in Phoenix. Tenants at the property include Tarbell’s, First Watch and Van’s Golf Shops. Will Haass and Eric Tupler of JLL arranged the fixed-rate financing on behalf of the borrower, MDC Realty Advisors, through a life insurance company. 

0 FacebookTwitterLinkedinEmail
Wilmington-Plaza-Wilmington-CA

Los Angeles — PSRS has arranged a $13.2 million loan for the refinancing of Wilmington Plaza, a 64,222-square-foot retail center in the Wilmington neighborhood of Los Angeles. Mike Thorp and Ari Zeen of PSRS secured the nonrecourse financing, which features a five-year term, 30-year amortization and cash-out proceeds, through a life insurance company. Tenants at the property include Northgate Gonzalez Market, CVS/pharmacy and Chase Bank.

0 FacebookTwitterLinkedinEmail
Town-Center-Plaza_East-Windsor-N.J

East Windsor and Garwood, N.J. — Cronheim Mortgage has secured $17.5 million in financing for two shopping centers in New Jersey. Andrew Stewart, Dev Morris and Allison Villamagna arranged the financing on behalf of the borrower, a New Jersey-based real estate firm that specializes in the development and acquisition of retail properties in the state. Southern Farm Bureau Life Insurance Co. provided the financing for the first property, Town Center Plaza in East Windsor. The $11 million, long-term loan features a step-down prepayment structure in the final 10 years of the …

0 FacebookTwitterLinkedinEmail
"Inside the Restructuring of a Retailer" webinar panel

The Feb. 27 Shopping Center Business webinar “Inside the Restructuring of a Retailer” detailed early warning signs for retailers in distress, as well as decision-making processes and strategies to restructure inside or outside of Chapter 11. What is needed for a successful restructuring? What kind of roles do firms retained in bankruptcy cases play in arranging prep work, navigating competing stakeholder agendas and arranging critical payment dates and short-term liquidity management? Learn more from this brief one-hour discussion that covers both the headlines and the behind-the-scenes process of restructuring for retailers. Register here to …

0 FacebookTwitterLinkedinEmail
Shopping-Center_North-Hollywood-Calif

Bakersfield, North Hollywood and Ventura, Calif. — Marcus & Millichap Capital Corp. (MMCC) has secured a $96 million loan for the refinancing of three shopping centers located in Southern California. Tenants at the properties — which are located in Bakersfield, North Hollywood and Ventura — include 24 Hour Fitness, Dollar Tree, Starbucks Coffee, Wells Fargo and Tractor Supply. Zack Metzner, Daizy Gomez and Linsey Farrahi of MMCC secured the five-year financing on behalf of the borrower, a private investor. The interest-only loan carries a fixed interest rate of 5.8 percent. 

0 FacebookTwitterLinkedinEmail
Morganton-Park-South_Southern-Pines

Southern Pines, N.C. — BWE has arranged a $24.3 million loan for the construction of Phase II of Morganton Park South, a retail development underway in Southern Pines. Situated near the Pinehurst Golf Resort, Phase II is fully preleased and will house the region’s first BJ’s Wholesale Club. Phase I of Morganton Park South is occupied by tenants including Target, Dick’s Sporting Goods/Golf Galaxy and HomeGoods. Daniel Rosenberg and Logan Petersmeyer of BWE originated the interest-only loan on behalf of the borrower, Midland Atlantic Properties. The loan was underwritten with a …

0 FacebookTwitterLinkedinEmail
Freedom-Plaza_Rome-N.Y

Rome, N.Y. — BWE has secured an $8 million loan for the acquisition of Freedom Plaza, a shopping center located in Rome in central New York. Tenants at the property, which totals 197,397 square feet, include Grand Union, Dollar Tree, Domino’s and Marshalls. Hobby Lobby is also scheduled to open at the property this year. Alan Tapie of BWE arranged the five-year, fixed-rate financing on behalf of the borrower, Octave Investment. 

0 FacebookTwitterLinkedinEmail
Quartermaster-Plaza_Philadelphia

Philadelphia — A partnership between DRA Advisors and KPR has secured a $55 million loan for the refinancing of Quartermaster Plaza, a 456,208-square-foot shopping center in Philadelphia. Built in 2004, the property was 99 percent leased at the time of financing. Tenants at the center, which the partnership acquired from Cedar Realty Trust in 2022, include BJ’s Wholesale Club, The Home Depot, Sprouts Farmers Market, Bank of America, Wendy’s, Walgreens, PetSmart and Planet Fitness. Michael Gigliotti, James Galbally, Michael Pagniucci and Blaine Fleming of JLL arranged the financing on behalf of …

0 FacebookTwitterLinkedinEmail
Newer Posts