The 10-year, fixed-rate loan refinanced an existing mortgage and was arranged by Matt Douglas of the El Segundo office of Venture West.
Built in 2003, the Ventura Gateway Center is at Telephone Road and the Ventura Freeway. The center is anchored by Kohls, Barnes & Noble, Linens 'n Things, Michael's, PetsMart, Pier 1 Imports, and Applebee's, and houses 16 other tenants.
Douglas says the leasing success of Ventura Gateway, which is 99% occupied, was a key to the financing. The strong leasing performance of the center enabled the borrower to lock in a loan at favorable interest rates, he says. The center is one of a number of retail locations developed by Robertson Properties Group, which also manages commercial real estate throughout Southern California.
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