John Hancock Provides $27 Million Refinance For Retail Shopping Center In Encino

The property asset involved is a retail shopping center located in Encino, California, featuring an expansive size of 140,161 square feet. The shopping center includes 52 rentable suites and offers 400 parking spaces, divided between a surface lot and a subterranean garage. The property hosts a diverse mix of tenants such as destination retailers, food and beverage chains, personal services, and medical/professional offices.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $27,000,000
• Loan Type: Refinance
• Loan Terms: 10-year term, 30-year amortization
• Lender: John Hancock
• Brokers: Michael Tanner & David Sarnoff - PSRS - Pacific Southwest Realty Services

Michael Tanner and David Sarnoff of PSRS facilitated this refinancing arrangement through one of their correspondent life insurance companies. Their expertise in the market contributed to structuring the loan that supports a robust tenant mix within the center, ensuring the property is well-equipped to handle high daily foot traffic.