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Vestar Secures $34 Million Refinance Loan From Voya Financial For Eastern Washington Place In Petaluma

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FINANCED
$34,000,000

California

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Retail205,958 SF
Financed 09/11/2025
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Property Image
FINANCED

Vestar Secures $34 Million Refinance Loan From Voya Financial For Eastern Washington Place In Petaluma

401 Kenilworth Drive

See Similar Deals
Retail205,958 SF
Financed 09/11/2025
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$165
Total Square Footage:205,958 SF
Transaction Type:Loan

The property asset involved is a retail center located at 401 Kenilworth Drive in Petaluma, California. This 205,958-square-foot retail space is situated on 20 acres and was built in 2013. Key tenants include Target, TJ Maxx, DICK’S, Sprouts, and PetSmart, serving a population of 68,500 people within a 5-mile radius.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $34,000,000
  • Lender: Voya Financial
  • Landlord: David Larcher - Vestar
  • Loan Type: Refinance
  • Asset Square Footage: 205,958 SF
  • Property Acres: 20

David Larcher, representing Vestar, secured a refinancing loan from Voya Financial for the East Washington Place retail center. The transaction highlights the collaboration between Vestar and Voya Financial in enhancing the financial positioning of the property.

Players

Voya Financial
Voya Financial
LENDER
DL
David Larcher
3 deals$141.1M volume
LANDLORD
V
Vestar
LANDLORD

Details

FINANCED
IMAGE: David Larcher DATE: 09/11/2025 ADDRESS: 401 Kenilworth Drive MARKET: Petaluma ASSET TYPE: Retail ~ SF: 205,958 ~ ACRES: 20 LENDER: Voya Financial (@Voya) LANDLORD: David Larcher - Vestar (@VestarProperties) LOAN AMOUNT: $34,000,000 LOAN TYPE: Refinance NOTE: Vestar landed a $34M refinancing loan from Voya Financial for East Washington Place, a 205,958-square-foot retail center in Petaluma, Calif. Built in 2013 and anchored by Target, the 20-acre property counts TJ Maxx, DICK’S, Sprouts and PetSmart among tenants, serving 68,500 people within 5 miles.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$34,000,000.00

Monthly NOI$226,666.67
Monthly Debt Service$214,903.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00