Meridian Arranges $84M Acquisition Loan on Vacaville Power Center
(Updated with additional information)
Meridian Capital Group arranged $84 million in acquisition financing for Nut Tree Plaza, a lifestyle power center in Vacaville, on behalf of Tower Investments.
The 10-year interest-only loan was provided by Citigroup and Wells Fargo. The financing was arranged by Jason Kahn and Thomas Wayda of Meridian.
Located at 1661 E. Monte Vista Ave. in Vacaville, the 370,575-square-foot power center includes a total of 68 tenants. Major tenants include Best Buy, Nordstrom Rack, HomeGoods, Michael’s, PetSmart, Old Navy, Cost Plus, Five Below, Ulta, BevMo, and Kirklands.
Opened in 1921 as a modest roadside stop, Nut Tree has grown to become a renowned stop along the drive from Lake Tahoe to San Francisco.
“It was a pleasure to work with the deal teams at Citigroup and Wells Fargo, who both persevered through unprecedented geopolitical events and volatile interest rate market conditions to deliver our client a best-in-market execution,” said Kahn.
Jimmy Slusher, Philip D. Voorhees and James Tyrrell of CBRE’s National Retail Partners – West represented the seller, a partnership managed by Dallas-based Dunhill Partners, in the $124.5-million transaction. Tower Investments has retained Dunhill Partners to manage Nut Tree moving forward.
- ◦Financing
