EL SEGUNDO, Calif.--(BUSINESS WIRE)--Venture West Funding, a commercial mortgage brokerage firm headquartered in El Segundo, CA, announced it has arranged the $15,000,000 refinance of the Regency Center in Lakewood, CA. The 305,000-square-foot multi-tenant neighborhood retail/entertainment center is home to Cal Bowl, Kohl’s, and The Rinks Lakewood. The center was originally developed in the 1980s with additional improvements constructed through 2003. The location on Carson St and Paramount Blvd provides easy access to both Long Beach and Lakewood residents.
Matt Douglas, Principal of Venture West Funding, arranged the financing with Farmers & Merchants Bank. The borrower is an affiliate of Robertson Properties; they began purchasing parcels at the subject property in the late 1970s and have slowly acquired/developed additional parcels to expand the center. The non-recourse 10-year fixed loan has no prepayment penalty. According to Mr. Douglas, “In this new interest rate environment, long-standing and trustworthy relationships with lending sources are essential. We were able to uniquely structure this long-term fixed loan at a very competitive rate. The bank offered an extended rate lock and executed seamlessly for the borrower."
Venture West Funding was founded more than 25 years ago and has placed over $12 billion in loan originations in the past 20 years. 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 2321 Rosecrans Avenue, Suite 1255, El Segundo, California 90245.
