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Corona Power Center Scores $140M Loan Through Deutsche Bank
JLL Capital Markets arranged a $140-million financing for Crossings at Corona, a Class A, 833,995-square-foot retail power center in Corona. A Debt Advisory team led by managing director John Marshall, director Spencer Seibring and analyst Nick Englhard represented the borrower, Castle & Cooke, in arranging a balance sheet loan through Deutsche Bank AG.
“The large loan market continues to track retail’s comeback story,” said Marshall. “Castle & Cooke’s storied history, best-in-class management team, and the property’s fundamentals provided a compelling credit thesis for lenders. JLL built a market with multiple bank and non-bank balance sheet bids, and Castle & Cooke executed flawlessly by taking advantage of compelling swap pricing despite a dynamic capital markets backdrop.”
Crossings at Corona was completed in 2005. It is shadow anchored by Target and includes sub-anchors Marshall’s, Kohl’s, Ross, HomeGoods, Sportsman’s Warehouse, Burlington, Regal Cinemas and other national retail and restaurant tenants, offering shoppers a mix of retail and entertainment options.
- ◦Financing
