|
|
7/07/20
|
Three SoCal retail assets totaling roughly 76k sf in size were acquired by an L.A.-based investment entity. Although we don’t have the purchase price, we can tell you that the transaction was financed with three individual property loans for a combined $19.9 mil.
One of the acquisitions was Town Center North, located at 805-835 College Blvd in Oceanside. The 44.3k sf property is 91% leased. Another of the properties is Bouquet Canyon Plaza, a 27.9k sf center at 27611-27633 Bouquet Canyon Rd in Santa Clarita. The property is 100% leased and shadow-anchored by Albertson's. The third asset in the deal is a 4.1k sf property at 2401 W. Whittier Blvd in Montebello. It is 100% leased to Pacific Premier Bank and WingStop.
All three loans were done separately, versus one portfolio loan, to allow for maximum flexibility for the borrower. The non-recourse financing was in the 50% loan-to-value range, fixed for a 10-year term at 3.5% and provides for maximum prepayment flexibility.
Shaun Moothart, Bruce Francis, Robert Ybarra, Dana Summers, Doug Birrell and Jim Korinek of CBRE arranged the financing on behalf of the buyer, a prominent family investment office.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate