Pearlmark Real Estate Secures $67M to Refi Retail Center

Pearlmark Real Estate has secured a $67 million bridge loan to refinance the Village Walk, a 149,000-square-foot Village Walk in Tarzana is anchored by a Whole Foods, 24 Hour Fitness & TJ Maxx. The property is on Ventura Boulevard and is situated next to the 101 Freeway, one of California’s busiest thoroughfares.

Annaly Capital Management funded the floating rate loan with a thirty-month initial

term with two one-year extension options. The funds will be used to fund capital improvements, tenant improvements and leasing commissions.

Mike Guterman and Brad Sevier of Highland Realty Capital secured the funds on behalf of the borrower.