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TRC Recapitalizes Target-Anchored Retail Center In La Cañada Flintridge For $34.6M

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FINANCED
$36,400,000
Nick Santangelo
Jim Korinek
Doug Birrell
+ 3

California

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Retail115,939 SF
Financed
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FINANCED

TRC Recapitalizes Target-Anchored Retail Center In La Cañada Flintridge For $34.6M

935 Foothill Boulevard

See Similar Deals
Retail115,939 SF
Financed
Nick Santangelo
Jim Korinek
Doug Birrell
+ 3
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$314
Total Square Footage:115939 SF
Transaction Type:Loan

The retail center located at owned by John Mank historians. The The. re of of a of of The of of of of The adding of a of of of a of of . Virt e with in of vy Your K The The The K K Do Zen an of of . Allied 0 7/10/20 .

Summary of transation details:

The transaction was facilitated by CBRE for TRC to recapitalize the purchase. The retail center houses a mix of national and local tenants including HomeGoods, Panera Bread, and Habit Burger. Jim Korinek, one of the brokers representing the landlord in the deal, played a key role in the transaction.

Players

Bruce Francis
CBRE
Bruce Francis
18 deals$717.8M volume(602) 524-0826
BROKER
Jim Korinek
CBRE
Jim Korinek
11 deals$494.5M volume(650) 255-2345
BROKER
Doug Birrell
CBRE
Doug Birrell
18 deals$622.8M volume
BROKER
Robert (Bob) Ybarra
CBRE
Robert Ybarra
20 deals$897.8M volume
BROKER
Shaun Moothart
CBRE
Shaun Moothart
21 deals$793.5M volume
BROKER
Nick Santangelo
CBRE
Nick Santangelo
15 deals$523.7M volume
BROKER

Details

FINANCED
IMAGE: Nick Santangelo, Shaun Moothart, Doug Birrell, Bruce Francis, Robert Ybarra & John Mankus DATE: 04/09/2024 ADDRESS: 935 Foothill Boulevard MARKET: La Cañada Flintridge ASSET TYPE: Retail ~ SF: 115,939 LANDLORD: John Mankus - TRC BROKERS: Bruce Francis, Doug Birrell, Jim Korinek, Nick Santangelo, Robert Ybarra & Shaun Moothart (@Smooth__Art) - CBRE (@CBRE) LOAN AMOUNT: $36,400,000 LOAN TYPE: Recapitalization LOAN TERMS: seven-year, full-term interest-only loan NOTE: CBRE facilitated $36.4 million in post-acquisition financing for TRC to recapitalize the purchase of a 115,939-square-foot Target-anchored center in La Canada Flintridge, last sold earlier this year for $66 million. The retail center, opened in 2008 and currently 96.7% occupied, houses a mix of national and local tenants including HomeGoods, Panera Bread, and Habit Burger.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$36,400,000.00

Monthly NOI$242,666.67
Monthly Debt Service$230,072.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00