{"id":1004673816,"date":"2023-07-31T06:56:28","date_gmt":"2023-07-31T14:56:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004673816"},"modified":"2023-07-31T07:19:29","modified_gmt":"2023-07-31T15:19:29","slug":"paragon-recapitalizes-orange-county-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/paragon-recapitalizes-orange-county-shopping-center\/","title":{"rendered":"Paragon Recapitalizes Orange County Shopping Center"},"content":{"rendered":"
\"Village<\/a>

Village Center. Image courtesy of JLL Capital Markets<\/em><\/p><\/div>\n

Paragon Commercial<\/strong> Group<\/strong> has recapitalized Village Center, a 93,336-square-foot retail asset in Fountain Valley, Calif., with a $17 million permanent loan. The company completed the financing agreement in partnership with Daiwa House Texas<\/strong>, a U.S. subsidiary of the Japan-based construction company.\u00a0CNO Financial Group Insurance Co.\u00a0<\/strong>provided the funds, according to CommercialEdge data.<\/p>\n

JLL Capital Markets<\/strong> brokered the transaction, with Managing Directors Bryan Ley, Geoff Tranchina and Gleb Lvovich working on behalf of Paragon.<\/p>\n

Paragon purchased the property back in 2021 from Martineau Properties for $14.7 million, according to CommercialEdge. Everlake Life Insurance Co. originated a $15 million acquisition loan, which was retired through the current agreement.<\/p>\n

Built in 1966, Village Center comprises two buildings on an 8.1-acre lot. Anchored by Sprouts Farmer\u2019s Market and Rite Aid Pharmacy, the property has a diverse mix of local and national retailers. The tenant roster includes Dollar Tree, Subway, Big Lots and Bank of America. The asset is 97 percent occupied.<\/p>\n

The shopping center is at 17904 Magnolia St. in Orange County\u2019s Huntington Beach submarket. Situated in an area where the average household income is approximately $120,000, Village Center serves more than 205,000 residents within a 3-mile radius.<\/p>\n

Lincoln Property Co.\u00a0and Paragon have recently formed a joint venture<\/a>, under which Paragon will serve as Lincoln\u2019s West Coast retail operator. The partnership\u2019s\u00a0retail investments\u00a0are set to include acquisition, redevelopment and ground-up development of open-air neighborhood and community centers.<\/p>\n","protected":false},"excerpt":{"rendered":"

The owner obtained a $17 million permanent loan.<\/p>\n","protected":false},"author":3014,"featured_media":1004673817,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,34267,21749,15],"tags":[44810,32796,35908],"class_list":["post-1004673816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-orange-county","category-retail","category-west","tag-cno-financial-group","tag-jll","tag-paragon-commercial-group"],"acf":[],"yoast_head":"\nParagon Recapitalizes Orange County Shopping Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Paragon Commercial Group has completed the recapitalization of a 93,336-square-foot grocery-anchored retail center in Fountain Valley, Calif.\" \/>\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\/paragon-recapitalizes-orange-county-shopping-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Paragon Recapitalizes Orange County Shopping Center\" \/>\n<meta property=\"og:description\" content=\"Paragon Commercial Group has completed the recapitalization of a 93,336-square-foot grocery-anchored retail center in Fountain Valley, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/paragon-recapitalizes-orange-county-shopping-center\/\" \/>\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=\"2023-07-31T14:56:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-31T15:19:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Village-Center-e1690454142452.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2588\" \/>\n\t<meta property=\"og:image:height\" content=\"1941\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/paragon-recapitalizes-orange-county-shopping-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/paragon-recapitalizes-orange-county-shopping-center\/\",\"name\":\"Paragon Recapitalizes Orange County Shopping Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/paragon-recapitalizes-orange-county-shopping-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/paragon-recapitalizes-orange-county-shopping-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Village-Center-e1690454142452.jpg\",\"datePublished\":\"2023-07-31T14:56:28+00:00\",\"dateModified\":\"2023-07-31T15:19:29+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"Paragon Commercial Group has completed the recapitalization of a 93,336-square-foot grocery-anchored retail center in Fountain Valley, Calif.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/paragon-recapitalizes-orange-county-shopping-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/paragon-recapitalizes-orange-county-shopping-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/paragon-recapitalizes-orange-county-shopping-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Village-Center-e1690454142452.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Village-Center-e1690454142452.jpg\",\"width\":2588,\"height\":1941,\"caption\":\"Village Center. 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