X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TORRANCE, CA-La Case Development Company has closed the deal on a $32 million senior and mezzanine loan from Redwood Capital Finance Company of El Segundo, Calif. The terms were not disclosed and not otherwise immediately available.

The money will be used to buy the 208,000 sf Airport Plaza retail center at the intersection of Crenshaw Boulevard and Pacific Coast Highway in Torrance, says Redwood, as well as to acquire, renovate and reposition the property, according to William Lindsay, vice president of Redwood Capital.

The occupancy rate of the Airport Plaza is about 78 %. Anchor tenants include Circuit City and Bank of America. And Kohl’s is expected to open a 98,000 sf department store there in May of 2003.

Redwood Capital Finance Company, LLC, is an affiliate of Pacific Coast Capital Partners, LLC, and U.S. Bank, Minneapolis. Pacific Coast has made more than $850 million in real estate investments in the West.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.