Lisa Hirose, chief financial officer for Donahue Schriber, saysthat the Costa Mesa-based company was able to secure the newfunding despite the stagnant capital markets conditions because thecompany has cultivated its lending relationships over many yearsand maintains a strong portfolio of assets in all marketconditions. "Despite the turbulent market," Hirose says, the firmcontinues to have access to funding and favorable terms.

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In the $187 million refinancing, Teachers Insurance and AnnuityAssociation of America provided the funding in the form of afixed-rate refinancing the nine-center shopping center portfolio.In the other transaction, the $121 million loan was made by asyndication of lenders led by Bank of America that includes WellsFargo Bank, PNC Bank and US Bank.

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The nine retail centers that were refinanced include two inSouthern California, five in Northern California and two in Nevada.The Southern California properties are the 190,439-square-footFountain Valley Promenade in Fountain Valley and the93,438-square-foot South Coast Marketplace in Santa Ana.

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The Northern California properties included the541,701-square-foot Santa Rosa Marketplace in Santa Rosa, the444,759-square-foot Laguna Crossroads and the 119,173-square-footLaguna Creek Town Center, both in Elk Grove; the 84,684-square-footRock Creek Plaza in Rocklin and the 81,082-square-foot AntelopeVideo center in Antelope. The Nevada properties were the159,621-square-foot Pebble Marketplace in Henderson and the106,838-square-foot Las Palmas Village in Las Vegas.

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Donahue Schriber has opened five retail centers this yeartotaling more than 1.5 million square feet and has plans to startconstruction on four centers in 2009. The company operates aportfolio of 16 million square feet throughout California, Nevada,Arizona and Oregon. It has been involved in nearly 30 millionsquare feet ofretail properties during its 39-year history.

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