Northmarq Secures $65M Bridge Loan for Murrieta Center

Northmarq’s Los Angeles Commercial Investment Sales team led by Bryan Ley and Tim Kuruzar, in collaboration with its Newport Beach Debt + Equity team led by Joe Giordani and Alex Kane, arranged the recapitalization and financing of Murrieta Town Center, a 380,137-square-foot grocery-anchored power center located at 39815-39855 Alta Murrieta Dr. and 40461-40489 Murrieta Hot Springs Rd. in Murrieta.

Ley and Kuruzar, members of Northmarq’s National Shopping Center Group, facilitated the recapitalization on behalf of U.S. Realty Partners. Arc Capital Partners of Los Angeles is the new joint venture partner.

“Murrieta Town Center drew tremendous interest from out-right sale options, recapitalization investors, and a mix of private and institutional capital sources,” Ley said. “This transaction further demonstrates the increased demand in grocery-anchored power centers that hit value-add returns with near and longer-term growth and upside.”

To facilitate the recapitalization, Northmarq arranged the $65-million bridge loan financing on behalf of U.S. Realty through a relationship with Principal Financial Group. The transaction was structured on a three-year term.

Built in 1987 and refurbished in 2022, Murrieta Town Center is anchored by Amazon Fresh, Marshalls, Burlington, Five Below, Dollar Tree, Famous Footwear and Floor & Decor.

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Northmarq's Ley

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).

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