HFF Secures Financing for SoCal Retail Center
The loan was procured for Oceangate Commerce Center, a 182,743-square-foot grocery-anchored property in Hawthorne, Calif.
April 21, 2011
By Allison Landa, News Editor
Holliday Fenoglio Fowler L.P. has nailed down $35 million in refinancing for Oceangate Commerce Center, a 182,743-square-foot grocery-anchored retail center in Hawthorne, Calif.
Located near Los Angeles International Airport and Century City, the center was completed in 1996 and is fully leased to tenants including Food 4 Less, Ross, Michaels and Payless Shoe Source. It is part of a bigger retail center shadow-anchored by Home Depot and Best Buy.
Working on behalf of borrower The Arba Group, HFF placed the 15-year fixed-rate loan with AIG Aasset Management. It has a 30-yar amortization schedule and will be serviced by HFF.
The HFF team working on the loan included managing directors Peter Smyslowski and Mark Wintner.
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