George Smith Partners Arranges $25 Million in Financing for Carriage Square Shopping Center

by Nate Hunter

Los Angeles — Financing replaced for redeveloped 1960s-era center.

Los Angeles — George Smith Partners has arranged two loans totaling $25 million in financing for Upside Investments for Carriage Square Shopping Center in Oxnard, Calif.

The two permanent loans replaced a construction loan that had allowed Upside to complete a redevelopment of the 173,000 square foot 1960s-era center, including razing most of the structures, repositioning in-line retail space, constructing new space and creating a 151,000-square-foot retail pad for new tenant Lowe’s.

The permanent loans included a $21 million credit tenant lease financing and a $4 million life company forward commitment. The loans were provided by two different lenders.

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