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DJM Secures $101.3M Financing for La Habra Retail Center
DJM Capital Partners Inc. received $101.3 million in non-recourse bridge debt for La Habra Marketplace, a 37-acre, open-air regional shopping center in La Habra, CA. The financing was arranged by George Smith Partners’ Steve Bram.
The loan, which replaced existing senior and mezzanine loans on the property at 1641 W. Imperial Hwy., covered closing costs and will fund 100% of future capital expenditures, tenant improvements, and leasing commission costs associated with the final stages of the 375,000 square-foot property’s stabilization.
The package included $96.6 million in initial funding and $4.7 million in future funding for the development of a new pad at the intersection of Imperial Highway and Beach Boulevard. The pad is pre-leased to Starbucks and Jimmy John’s. The financing will also fund a tenant improvement package for a Regal Cinema lease extension that will include a wraparound screen for the 16-screen neighborhood cinema.
The 24-month interest-only loan was negotiated at an interest rate of LIBOR plus 3.20%+.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing




