Seven Hills Realty Trust Provides $19.5M Loan To Finance Town Center Plaza Acquisition In Palm Desert

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.