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IRVINE, CA-Two permanent loans totaling $58 million were linedup and waiting for developer Lewis Retail Centers before completionof two new recent projects, according to the Orange County officeof Holliday Fenoglio Fowler. Don Curtis, senior managing directorin HFF's Irvine office, tells GlobeSt.com that the deals include a$40 million permanent loan for Lewis' Eastvale Gateway and an $18million loan for the developer's Sierra Lakes Village.
Lewis typically holds its properties for the long term, so bothloans are for terms beyond 10 years, according to Curtis. Both ofthe financings are with portfolio lenders who "committed to theloans before the completion of construction," he says.
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