BEVERYLY HILLS AND SEBASTOPOL, CA – Commercial real estate finance and investment advisory firm Lucent Capital has arranged two loans totaling $28,800,000 for The Barlow, a 212,000–foot-mixed-use industrial and retail lifestyle center in Sebastopol, CA anchored by world-renown Kosta Browne Winery.
“The financing included a non-recourse permanent loan that paid off the existing construction loan and enabled the developer to take interest rate risk off the table for the portion of the project that is complete and stabilized,” said Lucent Senior Vice President Ethan Schelin who arranged the financing. “A bridge loan provided cash out and good-news funds for future leasing on the portion of the project that will be stabilized over the next year.”
The Barlow is a unique place where consumers can buy directly from manufacturers. It was inspired by nationally acclaimed projects such as the Ferry Building in San Francisco, the Chelsea Marketplace in New York, and The Lab in Costa Mesa. The Barlow brings together the very best wine makers, food producers, and artisans, creating a space that offers a synergy amongst the makers of the regions finest products, as well as a direct connection between the consumer and the makers of the local products they love.
Tenants at the project include two full-scale production wineries, four wine tasting rooms, two breweries, a gin & vodka distillery, a coffee roaster, two restaurants, a grocery store, a tea company, a full-scale production bakery and various artisan producers of specialty goods and services. Plans for the remaining space include a boutique hotel with spa.
About Lucent Capital
Lucent Capital (http://www.lucentcapital.com) is a leading boutique real estate finance and investment advisory firm serving real estate owners, investors, developers and financial institutions nationwide. With more than $6 Billion of collective experience through cyclical real estate environments, Lucent Capital’s team of professionals has a proven track record of delivering sophisticated and creative capital solutions for a wide variety of complex real estate transactions on all major product types. Through tailor made solutions, executable advice, and reliable financial counsel, Lucent Capital provides its clients with highly specialized advisory services spanning the entire capital markets spectrum.