TUSTIN, CA-Johnson Capital has arranged $34.5 million in permanent financing for a 126,761 square foot grocery-anchored neighborhood shopping center here.

The center was constructed in 1995 on a 13.66 acre site at Jamboree Road and Irvine Boulevard. It has historically maintained 100% occupancy due to its premier quality location, and strong demographic trade area.

The center is anchored by a Ralph's grocery store and a Rite-Aid drugstore, along with many other major retailers serving the community. The property is located close to the Interstate 5 freeway, many major arterial streets and several luxury residential neighborhoods.

The non-recourse loan has a 15-year term with an initial interest only period, then it amortizes on a 30-year schedule. Richard Caterina, SVP in Johnson Capital's San Diego office made arrangements. The debt was provided by Prudential Mortgage Capital Corporation. The borrower is a local investment group which has been a repeat client of Johnson Capital several times over the past 20 years. This is the fourth time Caterina has financed this property.

Commenting on this transaction, Caterina said, “Given the quality of this shopping center, the credit income stream, and strong demographics, we had a great deal of interest from many top tier life companies, enabling our client to take advantage of the low rates and aggressive terms unique to such a unique asset.”

Celebrating its 25th anniversary as a leading commercial real estate capital advisory firm, Johnson Capital provides a variety of real estate financing services including debt placement and acquisition financing for permanent loans, construction financing and property repositioning.

Johnson Capital's transactions have ranged in total funding from $1 million to over $300 million and have financed all property types, including: multifamily, office, retail, industrial and hotels. Since its inception in 1987, Johnson Capital's aggregate transaction volume has surpassed $36 billion.

Instant Insights /

Johnson Capital Arranges Loan for Ralph's-Anchored Shopping Center

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