Updated Jan 12, 2026
Forbright Bank Provides $32 Million Refinance Loan For Crenshaw Plaza In Los Angeles
3210 West Slauson Avenue
$32,000,000
$217/SF
Building Size
146,901 SF
Asset Type
Retail
Closing
Feb 13, 2025
About this deal
AI
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.
On the Map
$32,000,000
$217/SF
Retail
View full map
Players
Los Angeles Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Deal FAQ
Visit Spencer Bergthold to view all their deals.
Browse Los Angeles retail loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93