Updated Oct 29, 2024
JLL Secures $12.05M Refinance Loan For Mission Promenade Shopping Center In Oceanside
1527 Mission Ave Oceanside, CA 92057, USA
$12,050,000
$114/SF
Building Size
105,700 SF
Asset Type
Retail
Closing
Jun 1, 2023
About this deal
AI
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.
On the Map
$12,050,000
$114/SF
Retail
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93