University Square Shopping Center in San Diego Gets $6M Loan

SAN DIEGO, CA – Marcus & Millichap Capital Corporation (MMCC) has arranged a $6 million fixed-rate loan for University Square Shopping Center (top left photo) , a 204,646-square foot neighborhood retail center located at 5900 University Ave. in San Diego.

Jake Roberts, a vice president capital markets, and Anita Paryani, a senior director, both in the West Los Angeles office of Marcus & Millichap Capital Corporation, arranged the financing package for the retail center.

“MMCC was able to acquire an aggressive preferred-equity lender that met our investor’s financing requirements,” says Roberts. “The investor provided MMCC with a significant cash-out preferred equity structure. The investor also wanted a recognition agreement with the senior lender, and in order to close in a timely manner, MMCC made the agreement a post-closing term item.”

Financing for University Square Shopping Center was provided by a private strategic capital lender at a 12 percent fixed rate with 87-months interest only. Loan-to-value was at 86 percent.

Press Contact: Kathy Molitor, Marcus & Millichap Capital Corporation, (925) 953-1704