Investor Sentre has expanded its portfolio with the purchase of San Marcos Village, a neighborhood retail center, for $19 million. The property was 92% leased to a collection of internet-resistant tenants including: Grocery Outlet, 99 Cents Only Store and AutoZone.
Sentre secured an $11.64 million, seven-year fixed-rate loan through a regional bank to fund the acquisition. Scott Peterson, Bill Chiles, Brian Cruz and Morgon Fraser of CBRE's San Diego Debt & Structured Finance team arranged the financing.
CBRE retail experts Philip Voorhees, Reg Kobzi, Preston Fetrow and Eric Shain represented both parties in this transaction.
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