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California  + Los Angeles  + Retail  | 

$30M Refi Arranged for 156K-SF Retail

Connect Retail West is tomorrow.  Here’s where to register for The Future of Retail.

George Smith Partners secured $30 million in refinancing for Plaza de Hacienda, a 156,000-square-foot grocery-anchored retail center at 1735-1869 N. Hacienda Blvd. in La Puente, CA. The sponsor, privately-held Optimus Properties LLC, replaced an existing loan set to mature on the asset with a 10-year loan.

“Financing for shopping centers continues to generate mixed responses from lenders,” said George Smith Partners’ Shahin Yazdi, who arranged the financing from a CMBS lender. Some lenders have “strong” appetites for retail, while others are more cautionary and “conservative” in underwriting, he noted.

The retail asset is anchored by Food 4 Less, and has national and credit tenants such as Ross, Big 5 and Jack in the Box. The process resulted in competitive cash-out refinancing, with a debt coverage ratio of 1.2, and a debt yield of 7.8%.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
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