Santa Clarita, Calif. — iBorrow has provided $15 million in refinancing for Old Orchard Shopping Center, a 100,000-square-foot retail center located in Santa Clarita. Proceeds of the financing will retire an outstanding commercial mortgage-backed security loan and fund tenant improvements and leasing commissions. Occupants at the property, located at 23329-23449 Lyons Ave., include grocery and fast-food tenants.
East Rutherford, N.J. — Triple Five — owners of American Dream — have secured financing for the 3 million-square-foot development, which is located in East Rutherford, roughly 13 miles outside of New York City. Financing, provided by a group led by JP Morgan, was obtained for an extended term of four years, maturing in October of 2026. Attractions at American Dream include DreamWorks Water Park, Nickelodeon Universe Theme Park, LEGOLAND Discovery Center, SEA LIFE Aquarium, Big SNOW Ski Hill and Dream Wheel. Retail and food and beverage tenants include Saks …
Fresno, Calif. — Matthews Real Estate Investment Services has arranged the sale of Village Walk Shopping Center, a 30,000-square-foot retail center located in Fresno. Nabil Awada of Matthews represented the undisclosed buyer, which acquired the property for $6.9 million in a 1031-exchange transaction. Crunch Fitness Center anchors the property, which is located at 6350-6380 North Figarden Ave. Jim Brandon and Greg Kavoklis of Matthews arranged financing for the purchase.
Austin, Texas — JLL has negotiated the sale of Southpark Meadows, a 938,103-square-foot retail power center in Austin. Built in phases between 2004 and 2008, the center was 95 percent leased at the time of sale to tenants including HomeGoods, Marshalls, Ross Dress for Less, Hobby Lobby, Burlington, Dave & Busters, Best Buy, Five Below and Rooms To Go. Chris Gerard, Barry Brown, Ryan Shore, Robby Westerfield and Cole Sutter of JLL represented the undisclosed seller in the transaction. Chris McColpin and Chris Drew, also with JLL, arranged an undisclosed …
Vacaville, Calif. — Gantry has secured $23 million for the refinancing of Vacaville Commons, a 400,000-square-foot retail center located in Vacaville, roughly 30 miles southwest of Sacramento. Tom Dao and Erinn Cooke of Gantry’s San Francisco office arranged the 10-year permanent loan on behalf of the borrower, an undisclosed investment partnership. Tenants at Vacaville Commons, which is shadow-anchored by Target and Burlington, include Safeway, Ross Dress for Less, Big 5, Chase Bank, Chick-fil-A and Chili’s.
Orange, Calif. — PSRS has arranged $15 million in financing for Galleria L’Orange, a multi-tenant retail center in Orange, roughly 30 miles outside of Los Angeles. Michael Tanner and Tony Messiah of PSRS secured the non-recourse loan, which features a 10-year term and 30-year amortization. A correspondent life insurance company provided the capital. Situated on 3.1 acres, the three-building property offers 40,323 square feet of retail space and 180 parking spaces. Tenants include Starbucks Coffee, Supercuts, U.S. Bank, H&R Block and T-Mobile.
Kyle, Texas and Zebulon, N.C. — Northmarq has secured financing for the acquisition of Plum Creek Village and Zebulon Crossing, two retail centers located in Texas and North Carolina. Ory Schwartz of Northmarq arranged the two loans, totaling $9.3 million, through a life insurance company on behalf of an undisclosed individual investor. Financing included $5.25 million for the purchase of Plum Creek Village, a 19,899-square-foot shopping center located in Kyle, Texas. The property is home to tenants including Shipley’s Tropical Smoothie Café and Action Behavior Center. Tenants at the 30,475-square-foot …
Indianapolis and Riverdale, Ga. — Marcus & Millichap’s IPA Capital Markets division has arranged $25.2 million in financing for the acquisition of Linwood Square and Merchants Square. The retail centers are anchored by Kroger and located in Indianapolis and Riverdale, Georgia, respectively. Sunny Sajnani and Duke Dennis of Marcus & Millichap arranged the financing through two separate, undisclosed banks on behalf of the borrower, Essential Growth Properties (EGP). Financing was secured in the form of five-year loans. The loan for Linwood Square is floating rate with an interest-only period of …
New York City — Cushman & Wakefield has arranged $142.9 million in construction financing for 120 Fifth Ave., a mixed-use development in the Park Slope neighborhood of Brooklyn. The borrowers, Senlac Ridge Partners and The William Macklowe Company, are redeveloping the two-acre site, currently a one-story vacant grocery store and its parking lot, into a 212,000-square-foot mixed-income housing property and retail plaza. The project will comprise two buildings featuring 180 residential units, 25 percent of which will be affordable. The development will also offer 67,000 square feet of retail space …
Pittsburgh —JLL Capital Markets has secured $74 million in financing for SouthSide Works, a 471,939-square-foot mixed-use development located in Pittsburgh. Nick Unkovic and Jeremy Bernstein of JLL arranged the financing — in the form of a six-year, floating-rate loan — with Dollar Bank on behalf of the borrower, SomeraRoad. SouthSide comprises five buildings and features 245,570 square feet of office space and 226,369 square feet of retail space. Tenants at the development include Fred Rogers Productions, COhatch, General Dynamics, LA Fitness, Pins Mechanical, Speckled Egg and Common Place Coffee, 1:11 …
