GRANADA HILLS, CA-The Knollwood Plaza, a 23,922-square-foot retail center has traded hands. According to industry sources unrelated to the deal, private investor Marc Needleman purchased the retail center for an estimated $10 million from Westwood Financial Corp.

NorthMarq secured a $7.2 million loan through a CMBS lender on behalf of the buyer to finance the acquisition. SVP and senior director David R. Blum and SVP and managing director Ory Schwartz of NorthMarq’s Los Angeles office secured a 10-year term loan with a 30-year amortization schedule. The transaction includes an 8.0% debt yield.

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