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.
La Habra Market Place Shopping Center is dual-anchored by Sprouts Farmers Market and Smart & Final and is 96 percent occupied.
George Smith Partners Arranges $101.3 Million in Financing for Shopping Center in Metro Los Angeles
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