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Los Angeles — Newmark Realty Capital Inc. has secured two refinance loans totaling $21.9 million for five retail buildings in Los Angeles.
The loans include an $8.6 million refinancing for a 38,665-square-foot, freestanding Whole Foods Market in the Mar Vista neighborhood of Los Angeles; and a $13.3 million financing for a four-building retail portfolio totaling 25,496 square feet in the Beverly Hills neighborhood of Los Angeles.
George Mitsanas and Doug Tisdale of Newmark arranged the fixed-rate, non-recourse loans on behalf of the borrower, a Beverly Hills-based developer. The 15-year loans, which amortize over a 30-year schedule, were placed with one of Newmark’s correspondent life insurance company lenders.