Lucescu Realty Arranges Financing of Huntington Oaks Center in California for $71 Million

Monrovia, Calif. – The financing package replaced a $51 million mortgage from Wachovia Bank.

Monrovia, Calif. – Lucescu Realty has arranged the financing of Huntington Oaks Shopping Center in Monrovia, near Los Angeles, for $71 million. Lucescu exclusively represented the interests of the borrower, Huntington Oaks Delaware Partners LLC and procured the lender, Bank of America, N.A. The financing package included a $60.5 million senior mortgage and a $10.5 million mezzanine loan; that together replaced a $51 million mortgage from Wachovia Bank.

Huntington Oaks Center is a 328,711-square-foot community shopping center anchored by Kohl’s, Trader Joe’s, Toys ‘R’ Us, Marshalls and Bed Bath & Beyond. The five major tenants occupy 197,852 square feet. The tenant roster also includes Petco, Party City, Black Angus, LensCrafters, Mimi’s Café, Chili’s, Kirklands, Chase Bank, Applebees, Panera Bread and Chipotle. Built in 1986, Huntington Oaks Center is situated on a 26.1-acre parcel and is currently 98 percent leased.

 

   Scott Reid

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