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| Brad Black |
LOS ANGELES, CA – HFF announced today that it has secured
financing totaling $60 million for two retail centers in the greater Los
Angeles area.
HFF worked on behalf of Shooshani Developers, LLC to secure
two 10-year loans in separate transactions through Deutsche Bank.
A $33 million loan, which was used to refinance a maturing
CMBS loan, was secured for Venice Crossroads, a grocery-anchored center
located near Culver City in Los Angeles.
The 156,800-square-foot retail center is 98 percent leased and is
anchored by Albertsons. Other tenants
include CVS, Ross, Office Max and Chase Bank.
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| Venice Crossroads Center, Los Angeles, CA |
A $27 million loan was arranged to acquire Centerpoint
Mall, a power center located in Oxnard, 63 miles northwest of downtown Los
Angeles. The power center totals
380,055 square feet and is 99 percent occupied. Tenants include Walmart, Superior Grocers, Payless ShoeSource,
Dollar Tree, Rite Aid, Auto Zone and Wells Fargo.
The HFF team was led by managing director Brad Black
and real estate analyst Jeff Sause.
Shooshani Developers was represented by managing member Tony
Shooshani.
Contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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