CALABASAS, CA—Johnson Capital recently arranged a $21.3 million loan for the owner of Summit at Calabasas, a retail center here along 101 Freeway.
The 71,770-sq.-ft. retail center was constructed in 2011, is currently 95% leased and it is anchored by Maddy's Market, a specialty grocer. Other tenants include various restaurants and soft goods retailers. The new three-year floating rate loan, which was provided by a regional bank, is priced over 30-day Libor and contains two one-year extension options.
Greg Richardson, managing director, and Scott Watson, vice president at Johnson, arranged the loan. “The high quality of the center coupled with strong sponsorship enabled us to obtain an aggressive structure and pricing.” Richardson says in a statement.