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JLL Secures $12.05M Refinance Loan For Mission Promenade Shopping Center In Oceanside

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FINANCED
$12,050,000

California

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Retail105,700 SF
Financed 06/01/2023
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Property Image
FINANCED

JLL Secures $12.05M Refinance Loan For Mission Promenade Shopping Center In Oceanside

1527 Mission Ave Oceanside, CA 92057, USA

See Similar Deals
Retail105,700 SF
Financed 06/01/2023
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$114
Total Square Footage:105,700 SF
Transaction Type:Loan

The Mission Promenade, a shopping center located at 1527-1547 Mission Avenue in Oceanside, California, has recently undergone a refinancing deal facilitated by JLL Capital Markets. The retail space, spanning 105,700 square feet and situated on 9.5 acres of land, is anchored by El Super and a grocery outlet. With its convenient access to the Greater San Diego region and surrounding areas, the Mission Promenade presents a prime retail opportunity.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $12,050,000
  • Loan Type: Refinance
  • Loan Terms: ten-year
  • Landlord: Milan Capital Management
  • Brokers: Jeff Sause & John Chun - JLL

JLL Capital Markets, represented by brokers Jeff Sause and John Chun from JLL, successfully closed the $12.05 million refinancing deal for Mission Promenade in Oceanside, California. This transaction highlights the expertise and effectiveness of JLL in securing favorable financing terms for their clients.

Players

Jeff Sause
33 deals$1.6B volume
BROKER

John Chun
JLL
20 deals$1.1B volume
BROKER

LANDLORD

Details

FINANCED
IMAGE: Jeff Sause & John Chun DATE: 06/01/2023 ADDRESS: 1527-1547 Mission Avenue MARKET: Oceanside ASSET TYPE: Retail ~ SF: 105,700 ~ ACRES: 9.5 LANDLORD: Milan Capital Management BROKERS: Jeff Sause & John Chun - JLL (@JLL) LOAN AMOUNT: $12,050,000 LOAN TYPE: Refinance LOAN TERMS: ten-year NOTE: JLL Capital Markets has facilitated a $12.05 million refinancing deal for Mission Promenade, a shopping center in Oceanside, California. The 105,700-square-foot retail space, anchored by El Super and a grocery outlet, offers convenient access to the Greater San Diego region and surrounding areas.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$12,050,000.00

Monthly NOI$80,333.33
Monthly Debt Service$76,164.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00