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June 22, 2018
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Commercial Financing Briefs

6/05/18

NEWMARK - Mark Ritchie and Jasmine Polson with Newmark® arranged $43.4 mil in financing for a 285k sf shopping center in Lakewood, CO. Anchored by King Soopers, a supermarket brand of Kroger, and sub-anchored by Ross, Petco, Old Navy, and Michaels, the 95% occupied property is located within the heart of Lakewood’s “Main & Main,” which is one of the strongest retail corridors in the Denver metro area. The 15-year term, 30-year amortization loan was funded through a correspondent life insurance company, and will be serviced by Newmark. The long term financing will be used to pay off an existing CMBS loan, cover transaction costs, and recoup a portion of the borrower’s equity.

NEWMARK - Mitchell Zeemont with Newmark® arranged $28 mil in long-term, fixed-rate, non-recourse financing for NorthPointe Shopping Center, located in Modesto. Anchored by Save Mart Supermarket and shadow-anchored by Costco and Lowe's, the community shopping center totals 180.3k sf of space. Located adjacent to CA Hwy 99, the center also includes such tenants as Cost Plus World Market, Starbucks, Jamba Juice, Verizon Wireless, and H&R Block. The 15-year, fixed-rate term loan has a 30-year amortization and was funded through Genworth Life Insurance Company.

CBRE CAPITAL MARKETS - Ray Stone Inc (RSI) has obtained $12.9 mil in refinancing for Roseville Commons, an 87.6k sf, independent living community in Roseville. The property, constructed in 1986, has 108 units. The Fannie Mae DUS financing was arranged by Kevin Randles and Aron Will with CBRE Capital Markets’ Debt & Structured Finance team.

NORTHMARQ CAPITAL - Michael Elmore with NorthMarq Capital arranged an $8.4 mil refi loan on Etchandy Industrial Complex II, a 165.2k sf industrial property in Placentia. The property is located at 1901, 1921, 1941, 1961, 1981 Miraloma Ave, 950 Fee Ana, and 1900-40 and 80 Petra Lane. The transaction was structured with a 15-year term, based on a 25-year amortization. The loan was funded through a life insurance company.




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