{"id":1004205117,"date":"2018-01-29T08:12:01","date_gmt":"2018-01-29T16:12:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004205117"},"modified":"2022-12-08T10:44:13","modified_gmt":"2022-12-08T18:44:13","slug":"friendly-hills-marketplace-in-ca-sells-for-40m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/friendly-hills-marketplace-in-ca-sells-for-40m\/","title":{"rendered":"Friendly Hills Marketplace in CA Sells for $40M"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004205120\" style=\"width: 332px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Whittier_FriendlyHills.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004205120\" data-attachment-id=\"1004205120\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/friendly-hills-marketplace-in-ca-sells-for-40m\/whittier_friendlyhills\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Whittier_FriendlyHills.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;22&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 60D&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1492819200&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;17&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.033333333333333&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Friendly Hills Marketplace\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Friendly Hills Marketplace&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Whittier_FriendlyHills.jpg?w=800\" class=\"wp-image-1004205120 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Whittier_FriendlyHills.jpg\" alt=\"Friendly Hills Marketplace\" width=\"322\" height=\"250\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Whittier_FriendlyHills.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Whittier_FriendlyHills.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Whittier_FriendlyHills.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 322px) 100vw, 322px\" \/><\/a><p id=\"caption-attachment-1004205120\" class=\"wp-caption-text\">Friendly Hills Marketplace<\/p><\/div>\n<p>Golden Capital Whittier has purchased Friendly Hills Marketplace, an 89,826-square-foot shopping center in Whittier, Calif. for $40 million. CBRE and National Retail Partners-West arranged the sale on behalf of the seller, Oppidan Inc. CBRE\u2019s Debt &amp; Structured Finance team arranged an acquisition loan for the buyer.<\/p>\n<p><em>\u201cWhile big-box retail is presently out of favor for most lenders, our CBRE debt team marketed the buyer\u2019s finance request to over 40 lenders, ensuring no stone was left unturned. This approach attracted multiple lenders, creating a competitive bid situation, ultimately resulting in aggressive pricing from a life insurance company with a rate in the high 3 percent range, fixed for 15 years,\u201d<\/em> said Shaun Moothart, member of CBRE\u2019s finance team, in prepared remarks.<\/p>\n<p>Built in 2017, the shopping center at 15311 Whittier Blvd. is exposed to the city\u2019s major street and is surrounded by many apartment communities. The retail facility is 100 percent leased to tenants including Orchard Supply Hardware, HomeGoods, ULTA Beauty and Skechers.<\/p>\n<p>The sale was brokered by CBRE&#8217;s Executive Vice President Philip Voorhees, Kirk Brummer, James Tyrrell, Megan Wood, Preston Fetrow and Jim Leary. Last year, the retail investment team, lead by Vorhees, completed the sale of <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-solana-beach-retail-center\/\">Solana Beach retail center<\/a>.\u00a0<\/p>\n<p><em>Image courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBRE and NRP-West brokered the sale on behalf of the seller, Oppidan Inc. CBRE has also arranged an acquisition loan for the buyer. <\/p>\n","protected":false},"author":871,"featured_media":1004205120,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,1594,21742,21749,15],"tags":[32789,38959],"class_list":["post-1004205117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-los-angeles","category-latest","category-retail","category-west","tag-cbre","tag-philip-voorhees"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Friendly Hills Marketplace in CA Sells for $40M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/friendly-hills-marketplace-in-ca-sells-for-40m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Friendly Hills Marketplace in CA Sells for $40M\" \/>\n<meta property=\"og:description\" content=\"CBRE and NRP-West brokered the sale on behalf of the seller, Oppidan Inc. CBRE has also arranged an acquisition loan for the buyer.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/friendly-hills-marketplace-in-ca-sells-for-40m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-29T16:12:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T18:44:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Whittier_FriendlyHills.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelyn Jozsa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/friendly-hills-marketplace-in-ca-sells-for-40m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/friendly-hills-marketplace-in-ca-sells-for-40m\\\/\"},\"author\":{\"name\":\"Evelyn Jozsa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/7a1fad8f1e02fa4d8f81f7e9ad21736a\"},\"headline\":\"Friendly Hills Marketplace in CA Sells for $40M\",\"datePublished\":\"2018-01-29T16:12:01+00:00\",\"dateModified\":\"2022-12-08T18:44:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/friendly-hills-marketplace-in-ca-sells-for-40m\\\/\"},\"wordCount\":224,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/friendly-hills-marketplace-in-ca-sells-for-40m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/01\\\/Whittier_FriendlyHills.jpg\",\"keywords\":[\"CBRE\",\"Philip Voorhees\"],\"articleSection\":[\"Deals\",\"Finance\",\"Investment\",\"Los Angeles\",\"News\",\"Retail\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/friendly-hills-marketplace-in-ca-sells-for-40m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/friendly-hills-marketplace-in-ca-sells-for-40m\\\/\",\"name\":\"Friendly Hills Marketplace in CA Sells for $40M - 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