Updated Mar 10, 2026
Seven Hills Realty Trust Provides $19.5M Loan To Finance Town Center Plaza Acquisition In Palm Desert
44250 Town Center Way
$19,500,000
Building Size
—
Asset Type
Retail
Closing
Mar 9, 2026
About this deal
AI
The asset involved in the transaction is Town Center Plaza, a grocery-anchored retail property located at 44100-44250 Town Center Way in Palm Desert. The property is secured by a first mortgage loan amounting to $19,500,000. It hosts nationally recognized retailers within the Coachella Valley and is designed to meet the demands of retail market trends.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $19,500,000
- Lender: Seven Hills Realty Trust
- Landlord: Brad LaRue - United Growth
- Broker: Palmer Capital
- Loan Terms: three-year
Seven Hills Realty Trust arranged the floating rate first mortgage loan through Palmer Capital on behalf of the sponsor, United Growth. This financing aims to facilitate the acquisition of the property in alignment with retail growth strategies in the Palm Desert market.
On the Map
$19,500,000
Retail
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Players
Palm Desert Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93