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Pearlmark Secures $67M Bridge Loan for Tarzana Retail Center
Highland Realty Capital arranged a $66.5 million bridge loan on behalf of an affiliate of Pearlmark Real Estate for Village Walk, a 149,259-square-foot, Whole Foods-anchored shopping center in Tarzana, CA. The property is also anchored by 24 Hour Fitness and TJ Maxx.
The floating-rate loan, funded by Annaly Capital Management, has a 30-month initial term with two one-year extension options. The loan, a portion of which may be drawn down over time, will fund capital improvements, tenant improvements and leasing commissions.
In addition to an underground parking garage, the center has more than 750 feet of frontage along Ventura Boulevard and is situated next to the 101 Freeway. The property is 92% leased, and continues to benefit from the newly-opened 24 Hour Fitness.
Highland’s Mike Guterman and Brad Sevier handled the transaction, who coincidently arranged the original acquisition financing for the project prior to redevelopment in the early 2000’s when it was called Brown Center.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing




