EL SEGUNDO, Calif.--(BUSINESS WIRE)--Venture West Funding, Inc., a mortgage company headquartered in El Segundo, CA announced it has arranged an $18 million loan for the refinance of the Long Beach Town Square shopping center located at 2100 E Carson Street, Long Beach, CA. The 117,701 square foot center built in 1999 is anchored by Ralphs and also includes several nationwide tenants including L.A. Fitness, Supercuts, Chase Bank, and Del Taco.
Matt Douglas of Venture West Funding arranged the financing through John Hancock Life Insurance Company for an affiliate of Robertson Properties Group. The non-recourse loan is at a very competitive 15-year fixed rate with 25 years of amortization. According to Mr. Douglas, "Together with John Hancock we were able to satisfy the borrower’s unique objectives by consolidating debt from two properties into one loan. This refinance provides our borrower with the flexibility to support their successful real estate investment strategy." The Venture West team worked diligently with the borrower and lender to ensure a successful loan closing.
Venture West Funding was founded more than 18 years ago and has placed more than $8 billion in loan originations since 2001. Venture West Funding is one of the largest firms of its kind operating throughout Southern California, and specializes in providing mortgage loans secured by apartment buildings, commercial properties and single-family homes to a wide variety of borrowers. Venture West Funding is headquartered at 2301 Rosecrans Avenue, Suite 3170, El Segundo, California 90245 (310.706.4450). The firm also maintains a full-service office in Orange County at 31371 Rancho Viejo Road, Suite 101, San Juan Capistrano, California 92675 (949.218.4002).
