Citivest Commercial Investments LLC Provides $20 Million Bridge Loan For Merced Retail Redevelopment

The property involved in the transaction is located at 851 West Olive Avenue, in Merced. It is a retail asset with a total square footage of 85,000. The transaction includes a bridge loan arranged for the redevelopment of this outparcel, which was formerly occupied by Sears.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $20,000,000
• Lender: Citivest Commercial Investments LLC
• Broker: Michael Guterman - Bellwether Enterprise (BWE)
• Loan Type: Bridge
• Loan Terms: 30-month

The broker involved in the transaction is Michael Guterman, who represents Bellwether Enterprise (BWE). The loan arranged will facilitate interior renovations and the establishment of two new pad sites, with tenants that include Ulta Beauty, Five Below, and Burlington Coat Factory.