Charlottesville, Va. — JLL Capital Markets has secured a $74.5 million loan to refinance the Shops at Stonefield, a 267,294-square-foot shopping center located in the Central Virginia city of Charlottesville, about 70 miles northwest of Richmond. Brian Gaswirth, Evan Parker, Gus Caiola and Jude Carlon of JLL arranged the three-year loan through FS Credit Real Estate Income Trust on behalf of the borrower, O’Connor Capital Partners.
Shops at Stonefield is anchored by Trader Joe’s and includes a mix of additional tenants such as L.L. Bean, lululemon, Sephora and a 14-screen Regal Cinema. The center is currently 98 percent leased but only 92 percent occupied.
Shops at Stonefield is part of a 43.5-acre master-planned community that includes a 137-room hotel, a 455,000-square-foot manufacturing facility occupied by Northrop Grumman and three residential properties totaling 686 combined units, including a recently delivered 227-unit luxury multifamily community.