Forbright Bank Provides $32 Million Refinance Loan For Crenshaw Plaza In Los Angeles

A loan transaction was arranged for a grocery-anchored retail center located at 3210 West Slauson Avenue in Los Angeles. The asset spans 146,901 square feet and is currently 97% leased. The property is anchored by Vallarta Supermarkets, Planet Fitness, and Foot Locker, illustrating a strong tenant mix in a prominent market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $32,000,000
• Loan Type: Refinance
• Loan Terms: three-year, floating-rate
• Lender: Forbright Bank
• Landlord: Kevin Wiser - 21 Alpha Group; Intelligent Design Real Estate
• Broker Representatives: Charles Halladay, Daniel Skerrett & Spencer Bergthold - JLL

This transaction involved JLL Capital Markets, which facilitated a $32 million floating-rate loan to refinance Crenshaw Plaza. The joint venture ownership between 21 Alpha Group and Intelligent Design Real Estate highlights their collaboration in managing this retail asset.