Northmarq Arranges $35M External Refinance Loan For The Vineyards At Porter Ranch In CA

The Vineyards at Porter Ranch, a 203,174 sq. ft. mixed-use retail property located at 20039 Rinaldi St in Porter Ranch, California, has secured a $35 million external refinancing loan. The property, built in 2019, offers a combination of retail, dining, and entertainment options, and is anchored by national retailers including Whole Foods Market and Nordstrom Rack. Situated in an affluent Los Angeles suburb, The Vineyards provides a prime location for both residents and visitors.

Summary of Transaction Details

• Property Type: Retail
• Transaction Amount: $35,000,000
• Loan Type: Refinance
• Loan Terms: The $35 million loan was obtained through a life insurance company and features a 10-year term on a 30-year amortization schedule.

The loan was secured by Northmarq, with Ory Schwartz representing the company's Los Angeles office. Schwartz noted that retail properties like The Vineyards, with a strong tenant mix and anchored by a grocer, are particularly attractive to life insurers. This successful refinancing demonstrates the desirability of the property and its potential for long-term profitability.