JLL Capital Markets secures $65 million loan for Wateridge, a six-building office and retail campus in West Los Angeles

  

Wateridge, West Los Angeles
(photo by Paul Bubny)

LOS ANGELES, CA –  JLL Capital Markets has arranged $65 million in refinancing for Wateridge, a six-building, office and retail campus totaling 583,580 square feet in West Los Angeles, California.

Todd Sugimoto

JLL worked on behalf of the borrower, LPC Realty Advisors I, LLC, an investment advisory affiliate of Lincoln Property Company to secure the five-year, fixed-rate financing with Deutsche Bank.

 

Built between 1989 and 2005, Wateridge’s campus spans 21 acres and consists of three multi-tenant office buildings, a single-tenant medical office, a standalone 24-hour fitness facility and a multi-tenant strip retail center.

 

The property is 80 percent occupied and leased to credit-tenants including Kaiser Health Foundation, the County of Los Angeles and Providence Health.

 

The JLL Capital Markets team was led by Managing Directors Todd Sugimoto and Mark Wintner and Director Chad Morgan.

 Mark Wintner

“The LPC team has done a terrific job transforming Wateridge since their initial acquisition,” said Morgan. “The combination of strong cash flow and institutional ownership within West Los Angeles were instrumental to the successful refinance.

 

 "We greatly appreciate the efforts amongst all parties involved to execute in today’s challenging environment.”

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

 

 The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

Chad Morgan

For more news, videos, and research resources, please visit JLL’s newsroom. 

 

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.   

 

CONTACT

Alli Stent

PR, Hotels & Hospitality

 Capital Markets

Chicago | JLL
M +1 330 329 6750

First National Realty Partners Reaches 100% Occupancy with Three New Leases at Haymarket Village Center in Virginia

 Fred Battisti

 

 Haymarket, VA – First National Realty Partners (FNRP), a leading national private equity commercial real estate firm, announced that Haymarket Village Center in Haymarket, Virginia is 100 percent leased.

 

The finalization of three new lease deals signifies the completion of a major part of the property’s business plan.

 

This milestone comes on the heels of successful lease deals with: Nova Patient Care, a regional urgent care provider, which has secured a 1,600-square-foot space.

Cin Dental, a regional dental operator, signed a lease for a 1,824-square-foot office space.

BeBop, a popular and growing restaurant chain, leased a 1,575-square-foot space, bringing a new and exciting dining option to the center.

 Bret Nesbitt

These additions significantly enhance the tenant mix at the shopping center, introducing new retail concepts and catering to a wide range of customer needs.

“We are thrilled to achieve fully leased status at Haymarket Village Center,” said Fred Battisti, chief revenue officer. “The leases with Nova Patient Care, Cin Dental and BeBop demonstrate the strong demand for well-located retail space in Haymarket.

"These tenants add diversity and value to the center, providing residents with convenient access to essential services and new dining options.”

FNRP's leasing strategy at the center extends beyond new tenants.

The firm has also secured six lease renewals with existing tenants, including Divine Nail Spa, Jersey Mike's Subs, Starbucks, Smoothie King, Sports Clips, and Verizon, further securing the center as a premier shopping destination for the Haymarket Community.

 Haymarket Village Center 

“Our leasing team's expertise in maximizing properties shines through with this strategic mix of acquisitions, renewals and backfills, an approach that ensures long-term success," said Bret Nesbitt, VP of Leasing. 

“Our commitment to proactive asset management and focus on securing high-quality tenants is the cornerstone of our continued efforts at the Haymarket Village Center and across our portfolio.”

FNRP provides accredited investors with access to institutional quality commercial real estate assets specializing in necessity-based real estate: grocery-anchored retail, multifamily, and industrial and sourcing opportunities both on and off-market nationwide.

 

 From acquisition to disposition, FNRP oversees the entire investment lifecycle 100% in-house, leveraging top talent in legal, acquisitions, leasing, and other key areas

 

CONTACT

Jessica Shein

Account Director

jshein@boardroompr.com

C 954-817-9389

O 954-370-8999

Web | Facebook | Instagram | LinkedIn 

 

www.fnrpusa.com.