Esplanade Shopping Center

$54,000,000 Retail Loan from Life Insurance Company

City: Oxnard, CA
Loan amount: $54,000,000
Lender type: Life Insurance Company
Property type: Retail
Size: 357,000 SF

Transaction description

Kostas Kavayiotidis, Mike Davis, and Matthew Farzinpour of PSRS arranged the $54 million acquisition financing of a grocery-anchored shopping center in Oxnard, California. The subject property is a 357,000-square-foot open-air shopping center home to anchor tenants like Walmart, Home Depot (NAP), TJ Maxx, Nordstrom Rack, Bob’s Discount Furniture, and Dick’s Sporting Goods. The property also features national shops and pad tenants including In N Out, Chipotle, and BJ’s Restaurant. Financed with life insurance company execution, PSRS provided its borrower with a seven-year loan term, including four years of interest only.

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