Tuesday, January 8, 2013

HFF secures financing totaling $60 million for two Los Angeles area retail centers



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. 

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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