San Jose, Calif. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.8 million loan for the refinancing of Tully Commercial Center, a property featuring 15 freestanding retail spaces in San Jose. Current tenants include Little Caesars, Hawaiian BBQ, a hair and nail salon, and a dry cleaner. David Campbell of Marcus & Millichap secured the financing, which features a seven-year term and 25-year amortization.
East Farmingdale, N.Y. — G.S. Wilcox has arranged a $10.6 million loan for the refinancing of a 34,877-square-foot retail property located in the Long Island community of East Farmingdale. The property consists of four buildings on a 6.9-acre site. David Fryer of G.S. Wilcox arranged the loan, which carried a 15-year term and a 30-year amortization schedule. The borrower and direct lender were not disclosed.
Riverview, Fla. — CBRE has secured a $15.2 million loan for the refinancing of Shoppes of Southbay, a 99,542-square-foot retail center located in Riverview. Tenants at the property, which was fully leased at the time of financing, include Winn-Dixie, Tampa General Hospital, Buffalo Wild Wings, Panera Bread and Leslie’s Poolmart. Paul Ahmed and Mackenzie Lampman of CBRE arranged the loan through a life insurance company on behalf of the borrower, a partnership between Peter Wenzel of Wenzel Investment Group and Victor Ferraez. The partnership acquired the property, which was originally built …
Modesto, Calif. — PSRS has arranged $14.5 million in permanent debt for Central Valley Plaza, a retail center located in Modesto. Walmart and Kohl’s anchor the property. Michael Thorp of PSRS secured the 10-year loan through a life insurance company on behalf of the undisclosed borrower.
Kissimmee, Fla. — Concord Summit Capital has arranged a $42 million bridge loan for the financing of The Promenade at Sunset Walk—Margaritaville Resort, a retail center located in Kissimmee, roughly 22 miles outside Orlando. The 14-building property comprises 192,659 square feet and is situated within the 325-acre master-planned community of Sunset Walk. Kevin O’Grady and Justin Neelis of Concord Summit secured the financing through BridgeInvest on behalf of the borrower, Encore Capital Management. The property’s inline space was fully leased at the time of financing, with one vacant pad space available. …
Los Angeles — Unibail-Rodamco-Westfield (URW) has received $925 million in new financing for Westfield Century City, a 1.4 million-square-foot mall located in Los Angeles. The mall, which is fully owned by URW, was 95 percent occupied at the time of financing, which is in the form of a two-year, floating-rate commercial mortgage-backed security (CMBS).
Meridian, Idaho — Wood Investments Cos. has secured refinancing totaling $39.1 million for two shopping centers located in Meridian, roughly 11 miles outside Boise. The first shopping center, Gateway Marketplace, is leased to tenants including a 42,212-square-foot PGA Tour Superstore, Trader Joe’s, Mecca Gym, Land Ocean, Chili’s, Le Peep, Mathnasium and Orange Theory Fitness. Wood acquired the property in 2021. Tim Winton of Keystone Mortgage Corp. arranged a $16.5 million permanent loan through Voya Investment Management for the 135,732-square-foot property. The second shopping center, CentrePoint Marketplace, totals 197,288 square feet and …
Navarre, Fla. — CBRE has arranged a $12.9 million loan for the refinancing of Wynnehaven Plaza, a 64,995-square-foot shopping center located in Navarre. A 48,387-square-foot Publix grocery store anchors the center, which was completed earlier this year. Seven other tenants occupy the fully leased property, including a coffee shop, primary care clinic, ice cream parlor and a nail salon. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE secured the financing on behalf of the borrower, Atlanta-based Branch Properties, through 40|86 Mortgage Capital.
Colonie, N.Y. —Axiom Capital Corp. has arranged an $8.6 million permanent loan for the refinancing of a mixed-use property located in Colonie. Totaling 107,245 square feet, the development features retail and office space across nine separate buildings.
Oxnard, Calif. — Marcus & Millichap Capital Corp. has arranged a $7.5 million loan for the acquisition of a 37,500-square-foot single-tenant retail property located in Oxnard. Esporta Fitness occupies the building, which was constructed in 1970 and renovated in 2017. Ron Balys secured the financing on behalf of the buyer.
