George Smith Partners Arranges $101.3 Million in Financing for Shopping Center in Metro Los Angeles

by Alex Tostado

La Habra, Calif. — George Smith Partners has arranged a 101.3 million bridge loan for La Habra Marketplace, a 375,000-square-foot retail center in La Habra, 22 miles east of downtown Los Angeles. Sprouts Farmers Market and Smart & Final anchor the 37-acre property. Steve Bram of George Smith Partners represented the borrower, DJM Capital Partners Inc., in the loan transaction. The loan, which includes $96.6 million in initial funding and $4.7 million in future funding, replaces senior and mezzanine loans on the property, and was negotiated at an interest rate of LIBOR plus 320 basis points. Future funding will go toward a new pad, which is pre-leased to Starbucks Coffee and Jimmy John’s Gourmet Sandwiches, and a tenant improvement package that will include a lease extension for Regal Cinemas. Other tenants at La Habra Marketplace include Petco, Ulta Beauty, Hobby Lobby, Ross Dress for Less and LA Fitness. The center is 96 percent occupied.

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