{"id":1004233934,"date":"2018-06-07T10:49:49","date_gmt":"2018-06-07T18:49:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004233934"},"modified":"2022-12-08T14:06:21","modified_gmt":"2022-12-08T22:06:21","slug":"robertson-properties-grabs-la-retail-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/robertson-properties-grabs-la-retail-financing\/","title":{"rendered":"Robertson Properties Grabs LA Retail Financing"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004233938\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1644-Cloverfield-Blvd.-in-Santa-Monica-Calif..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004233938\" data-attachment-id=\"1004233938\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/robertson-properties-grabs-la-retail-financing\/1644-cloverfield-blvd-in-santa-monica-calif\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1644-Cloverfield-Blvd.-in-Santa-Monica-Calif..jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Jeffrey Hamann&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1528382612&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;1&quot;}\" data-image-title=\"1644 Cloverfield Blvd. in Santa Monica, Calif.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1644 Cloverfield Blvd. in Santa Monica, Calif.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1644-Cloverfield-Blvd.-in-Santa-Monica-Calif..jpg?w=800\" class=\"wp-image-1004233938 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1644-Cloverfield-Blvd.-in-Santa-Monica-Calif..jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1644-Cloverfield-Blvd.-in-Santa-Monica-Calif..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1644-Cloverfield-Blvd.-in-Santa-Monica-Calif..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/1644-Cloverfield-Blvd.-in-Santa-Monica-Calif..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004233938\" class=\"wp-caption-text\">1644 Cloverfield Blvd. in Santa Monica, Calif.<\/p><\/div>\n<p>Robertson Properties Group has taken a $21 million refinancing package on a 51,000-square-foot Ralphs grocery store in Santa Monica, Calif. The permanent, fixed-rate mortgage is held by John Hancock Life Insurance Co. Venture West Funding secured the loan for the owner.<\/p>\n<p>Located at 1644 Cloverfield Blvd., the building sits alongside Olympic Boulevard, less than half a mile from Interstate 10. The structure is positioned near a number of public transportation options at the edge of the Colorado Avenue retail corridor. The single tenant signed its lease in 1993, according to Los Angeles County records.<\/p>\n<p><em>\u201cWe were pleased to have placed another loan for this developer at a competitive long-term fixed rate,\u201d<\/em> said Venture West Principal Matt Douglas, who arranged the financing, in a prepared statement. <em>\u201cTogether with John Hancock Life Insurance Co., we were able to satisfy the borrower&#8217;s objectives by retiring the existing debt and providing cash out for future investments. We were also pleased they locked at a favorable time before the recent rise in interest rates.\u201d<\/em><\/p>\n<p>Earlier this year, John Hancock Life Insurance Co. <a href=\"https:\/\/www.commercialsearch.com\/news\/pac-nabs-4-office-assets-in-atlanta\/\">provided a $40 million non-recourse mortgage loan<\/a> for Preferred Office Properties&#8217; acquisition of Armour Yards,&nbsp;a development containing four recently converted office buildings in Atlanta\u2019s Buckhead submarket.&nbsp;<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The owner landed $21 million for the building comprising more than 50,000 square feet, which is fully leased to Ralphs grocery store.<\/p>\n","protected":false},"author":861,"featured_media":1004233938,"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":[38413,40590,40592],"class_list":["post-1004233934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-los-angeles","category-latest","category-retail","category-west","tag-john-hancock-insurance","tag-robertson-properties-group","tag-venture-west-funding"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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