Michel A. Khalaf Of MetLife Inc Provides $52 Million Refinance Loan For The Promenade At Westlake

The Promenade at Westlake, located at 30770 Russell Ranch Road in Westlake Village, is a retail asset spanning 104,500 square feet and situated on 11 acres. Recently, it secured a refinancing loan of $52,000,000, which replaced a prior maturing loan of $50,000,000 from 2015 amidst an environment of softening retail fundamentals in Greater Los Angeles, experiencing increasing vacancies and declining rents as of early 2025.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $52,000,000
• Address: 30770 Russell Ranch Road
• Market: Westlake Village
• Asset Size: 104,500 SF
• Acres: 11
• Lender: Michel A. Khalaf - MetLife Inc
• Landlord: Daniel Selleck - Selleck Development Group
• Loan Type: Refinance

Michel A. Khalaf of MetLife Inc served as the lender in this refinancing deal, while Daniel Selleck of Selleck Development Group represented the landlord. This transaction highlights the ongoing adjustments in the retail sector as businesses navigate challenging market conditions.