Salomon Brothers Realty Corp. provided the funding for Amerige Town Center LLC, which is an affiliate of Barclay's Realty & Management of Beverly Hills, CA. Regency Centers of Jacksonville, FL is the seller.
The loan was for the acquisition of 163,717 sf of retail space within the 417,000-sf center, which is at the northeast corner of Gilbert Street and Malvern Avenue, according to Jack Standeford of the LJ Melody team that arranged the loan. The team included Standeford and Lois Townsend of the company's Seattle office and Bruce Anderson of its Newport Beach, CA office. LJ Melody is a CB Richard Ellis company.
Amerige Heights was 100% occupied at sale time. The center's major tenants include Barnes & Noble, Linens N Things, Old Navy, Pier 1 Imports and Ross Stores. The center, built in 2001, is concrete-block construction with stucco and glass storefronts. The center is one of many that have traded in Orange County in recent months as retail properties become what some brokers describe as a product of choice for many investors due to desirable cap rates and reliable returns.
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