14
Port Hueneme, Calif. — JLL Capital Markets has arranged a $29.5 million bridge loan for Oliveira Plaza, a 116,035-square-foot neighborhood retail center located in the Ventura County community of Port Hueneme. The three-year loan will be used to finance a new Sprouts Farmers Market at the property. Greg Brown, Spencer Seibring and Nick Englhard of JLL’s Debt Advisory team secured the loan with a debt fund on behalf of the borrower, Align REI.
Originally built in 1975 on 9.3 acres, Oliveira Plaza is 80 percent leased to a mix of tenants including West Marine Products, Dollar Tree, Bank of America, Panda Express and Carl’s Jr.