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Northmarq Secures $39.5 Million Refinance For Lakewood Marketplace Retail Center In Lakewood California

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FINANCED
$39,500,000

California

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Retail
Financed 01/24/2025
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FINANCED

Northmarq Secures $39.5 Million Refinance For Lakewood Marketplace Retail Center In Lakewood California

5420 Woodruff Avenue

See Similar Deals
Retail
Financed 01/24/2025
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Transaction Type:Loan

Lakewood Marketplace is a grocery-anchored retail center located at 5420-5699 Woodruff Avenue in the Lakewood market. It spans 16 acres and includes notable tenants such as Ross, Grocery Outlet, and Ace Hardware. The property has undergone a cash-out refinance with a loan amount of $39.5 million at a sub-6% fixed rate.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $39,500,000
  • Loan Type: Refinance
  • Loan Terms: five-year, interest-only
  • Broker: David Blum - NorthMarq

NorthMarq was responsible for arranging the refinance through a life company lender, facilitating the terms of the loan effectively for the property involved in this transaction.

Players

David Blum
NorthMarq
David Blum
2 deals$63.5M volume(949) 717-5215
BROKER

Details

FINANCED
IMAGE: David Blum DATE: 01/24/2025 ADDRESS: 5420-5699 Woodruff Avenue MARKET: Lakewood ASSET TYPE: Retail BROKER: David Blum - NorthMarq (@NorthMarq) LOAN AMOUNT: $39,500,000 LOAN TYPE: Refinance LOAN TERMS: five-year, interest-only NOTE: Northmarq arranged a $39.5 million cash-out refinance for Lakewood Marketplace, a grocery-anchored retail center in Lakewood, California, through a life company lender at a sub-6% fixed rate. The 16-acre property features tenants such as Ross, Grocery Outlet, and Ace Hardware.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$39,500,000.00

Monthly NOI$263,333.33
Monthly Debt Service$249,666.87
Change in Cash Flow$0.00
Refinance Proceeds$0.00