Matt Douglas of the El Segundo office of Venture West Fundingsays the security for the loan consists of a leased fee interest inthe Lowe's Home Improvement Center, a 113,000-sf building and anattached 24,450-sf garden center that occupy a 10.2-acre site on along-term ground lease. The borrower is an affiliate of RobertsonProperties Group of Los Angeles.
Douglas says the funding was provided by Keystone Mortgage, acorrespondent for Americo Life of Kansas City, MO. He says Lowe'soutstanding credit enabled the lender to provide a 20-year, fullyamortizing fixed-rate loan at a very low interest rate andextremely high leverage. The Lowe's building is at the northwestcorner of Beach Boulevard and Trask Avenue, south of the GardenGrove Freeway in the Westminster Gateway, a neighborhoodcenter.
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