California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Carmel Valley Retail Center Secures $28M Loan from Insurer
JLL Capital Markets secured a $27.55-million loan for Torrey Hills Center, an 86,467-square-foot grocery-anchored neighborhood retail center in San Diego. Senior managing director Greg Brown, managing director John Marshall, director Spencer Seibring and associate Allie Black worked on behalf of the borrower, a national real estate investment and management firm, in arranging the 10-year, fixed-rate loan through a correspondent insurance company.
Located at 4639-4653 Carmel Mountain Rd., Torrey Hills Center is positioned in the affluent Carmel Valley neighborhood. Built in 2005, the property is 98.4% leased to 26 tenants, anchored by Vons Market and featuring a diverse mix of national and regional retailers including OrangeTheory Fitness, Starbucks, Wells Fargo and JetSet Pilates.
“The successful refinancing of Torrey Hills Center demonstrates the strong lender appetite for well-located, grocery-anchored retail assets in affluent submarkets,” said Brown. “The process we ran surfaced multiple excellent options, and we ultimately locked rate below the stated floor coupon with a fantastic lender.”
- ◦Financing
