TRC Recapitalizes Target-Anchored Retail Center In La Cañada Flintridge For $34.6M | 935 Foothill Boulevard | Nick Santangelo, Jim Korinek, Doug Birrell, Bruce Francis, Shaun Moothart, Robert (Bob) Ybarra | Retail | Loan

Summary

Loan

CALIFORNIA

Retail

115,939 sqft

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:

Property Type: Retail
Transaction Amount: $36.4 million
Address: 935 Foothill Boulevard
Market: La Cañada Flintridge
Loan Amount: $34,600,000
Loan Type: Recapitalization
Loan Terms: seven-year, full-term interest-only loan
Brokers: Bruce Francis, Doug Birrell, Jim Korinek, Nick Santangelo, Robert Ybarra & Shaun Moothart - CBRE

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

All
7

Agents
6
Agencies
1

Nick Santangelo

Senior Vice President

$49.5M Sold

Jim Korinek

Executive Vice President

Doug Birrell

Senior Vice President

Bruce Francis

Vice Chairman

Shaun Moothart

Senior Vice President

Robert (Bob) Ybarra

Senior Vice President

CBRE

Details

Deal Summary

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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Address935 Foothill Boulevard

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