{"id":1004170723,"date":"2017-03-29T23:20:45","date_gmt":"2017-03-30T07:20:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004170723"},"modified":"2022-12-08T19:57:06","modified_gmt":"2022-12-09T03:57:06","slug":"hff-secures-13m-refi-for-santa-monica-retail-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-secures-13m-refi-for-santa-monica-retail-property\/","title":{"rendered":"HFF Secures $13M Refi for Santa Monica Retail Property"},"content":{"rendered":"<p>By Evelina Croitoru<\/p>\n<div id=\"attachment_1004170728\" style=\"width: 385px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/3202-3212-Wilshire-Boulevard.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004170728\" data-attachment-id=\"1004170728\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hff-secures-13m-refi-for-santa-monica-retail-property\/3202-3212-wilshire-boulevard\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/3202-3212-Wilshire-Boulevard.jpg\" data-orig-size=\"952,560\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"3202-3212 Wilshire Boulevard\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/3202-3212-Wilshire-Boulevard.jpg?w=952\" class=\"  wp-image-1004170728\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/3202-3212-Wilshire-Boulevard.jpg\" alt=\"3202-3212 Wilshire Boulevard\" width=\"375\" height=\"220\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/3202-3212-Wilshire-Boulevard.jpg 952w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/3202-3212-Wilshire-Boulevard.jpg?resize=300,176 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/3202-3212-Wilshire-Boulevard.jpg?resize=768,452 768w\" sizes=\"auto, (max-width: 375px) 100vw, 375px\" \/><\/a><p id=\"caption-attachment-1004170728\" class=\"wp-caption-text\">3202-3212 Wilshire Boulevard<\/p><\/div>\n<p><strong>Los Angeles<\/strong>\u2014HFF has arranged a $12.6 million refinancing for 3202-3212 Wilshire Blvd., a retail building in Santa Monica, Calif. The company placed the non-recourse fixed-rate loan with a correspondent life insurance company on behalf of the borrower, a local family office advised by The Luzzatto Co. Loan proceeds were utilized to supplement the long-term hold of the asset in the borrower\u2019s core portfolio.<\/p>\n<p>Located on Wilshire Boulevard between Franklin Street and Centinela Avenue, the 28,021-square-foot property completed in 1996 is fully occupied by CVS Pharmacy and BevMo. The single-story building located on .67 acres also features a partial subterranean garage and 77 parking stalls.<\/p>\n<p>Director Jeff Sause, Senior Managing Director Paul Brindley and Associate Ryan Ash of HFF led the debt placement team representing the borrower. The retail property is located in one of the most affluent areas in greater Los Angeles County, with 23,043 households earning an average annual household income of $108,317 living within a one-mile radius of the property. According to Los Angeles county records, the property was last assessed at $10.6 million.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Located on Wilshire Boulevard between Franklin Street and Centinela Avenue, the 28,021-square-foot asset was completed in 1996.<\/p>\n","protected":false},"author":1055,"featured_media":1004170728,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1594,21742,21749,15],"tags":[32792,34646,34677],"class_list":["post-1004170723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-los-angeles","category-latest","category-retail","category-west","tag-hff","tag-jeff-sause","tag-the-luzzatto-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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