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California  + Los Angeles  + Finance  | 

$23M Loan Finances Acquisition of Simi Valley Town Center

Archway Capital provided a $22.8-million loan to acquire Simi Valley Town Center. Built in 2005, the 593,827-square-foot retail center is located at 1403-1685 Simi Town Center Way in Simi Valley. The borrower was not disclosed.

“We are pleased to provide acquisition financing on this value-add asset on behalf of the experienced borrowers,” said Bobby Khorshidi, CEO with Archway Capital. “The new ownership has a strategic plan in place to reposition the center to lifestyle retail over the next 12 months.”

Added Jessica Carter, VP, originations, “Archway successfully closed the non-recourse, 24-month loan within 30 days of origination. Bridge money was required due to the quick closing timeline and strategic repositioning plan for the property. Ultimately, we created bespoke short-term financing that provides time for the borrower to reimagine the center and attract new retail tenants.”

Simi Valley Town Center’s tenant roster includes Marshalls, Ulta Beauty, Studio Movie Grill, Five Below, California Pizza Kitchen, Red Robin, Verizon, Corner Bakery and Starbucks.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Financing
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