Align REI Secures $29.55M Bridge Loan From JLL For Oliveira Plaza Retail Center In Port Hueneme
749 Channel Islands Blvd
$29,550,000
$254/SF
Building Size
116,035 SF
Asset Type
Retail
Closing
Sep 8, 2025
AI
The property asset involved in this transaction is Oliveira Plaza, a retail center located at 693-749 Channel Islands Boulevard in Port Hueneme, CA. The asset spans 116,035 square feet and is situated on a 9.34-acre lot. The transaction involved a bridge loan of $29,550,000, facilitating the repositioning of the retail center with plans for the addition of a Sprouts Farmers Market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $29,550,000
- Loan Type: Bridge
- Loan Terms: three-year
- Landlord: Align REI
- Brokers: Greg Brown, Spencer Seibring & Nick Englhard - JLL
- Market: Port Hueneme
The JLL Capital Markets team, comprising Greg Brown, Spencer Seibring, and Nick Englhard, arranged the financing for Align REI. Their expertise facilitated this transaction aimed at enhancing Oliveira Plaza's market presence through strategic improvements.
Players
Port Hueneme 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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93