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NEWPORT BEACH, CA-Heslin Holdings Inc. has converted two formerAlbertsons supermarkets into Food4Less grocery stores, refinancingthe properties with a $25-million direct conduit loan from MerrillLynch. The stores include an 80,000-sf Food4Less at 7910 KatellaAve. in Stanton and another 80,000-sf Food4Less at 914 W.Orangethorpe in Fullerton.

The funding replaces a portion of a $33-million bridge loan withInland Mortgage Capital Corp. that Heslin used to acquire fourproperties early last year, when Heslin bought the then-emptysupermarkets from Albertsons as part of a larger portfoliopurchase. The Newport Beach-based company's business plan revolvedaround landing new tenants for the two locations, notes CaseyMcKeon, director of acquisitions for Heslin.