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Venture West Funding Arranges $14 Million Loan on Shopping Center in Decatur, GA
El Segundo, Calif.-(BUSINESS WIRE) – March 27, 2006--Southern California-based Venture West Funding, Inc. announced it has arranged a $14 million purchase loan on Chapel Hill Commons in Decatur, Georgia. Chapel Hill Commons is a 108,100-square foot (SF) neighborhood retail center built in 2000 and situated on a 16.35-acre site in DeKalb County, Georgia. The center is anchored by Kroger (64,905 SF) and contains 24 other tenants including Goodyear, Nationwide Insurance and H&R Block. The street address is 4919 Flat Shoals Parkway and the center is 100% leased.
Bill Hain of Venture West arranged the financing with Bear Stearns for Sabatini Atlanta Enterprises, Inc. According to Hain, “Chapel Hill Commons is located about 10 miles southeast of the Atlanta central business district area in Georgia and is situated in an area that has seen rapid residential growth in the past 10 years. The shopping center is located in the southeast quadrant of Flat Shoals Parkway and Flakes Mill Road and the property was purchased for $18 million. Kroger’s portion of the site also includes a four-island, eight-pump Kroger gas station.”
“We have been successful in arranging loans throughout the United States and this large loan is an example of our ability to offer a diverse array of real estate financing options to our clients. Chapel Hill Commons has been purchased by a San Diego, CA resident who is diversifying his portfolio into grocery-anchored retail shopping centers from a core holding of apartment buildings,” added Hain.
Venture West Funding was founded 10 years ago, and has placed more than $4 billion in loan originations since 2000. Venture West 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 is headquartered at 2301 Rosecrans Avenue, Suite 3100, El Segundo, California, 90245 (310.706.4450). The firm also maintains a full service office in Orange County at 2 Park Plaza, Suite 220, Irvine, California (949.475.5573).
CONTACT: Venture West Funding
Bill Hain
(310) 706.4450, Extension 255
bhain@ventwest.com
www.venturewestfunding.com
or
Santley Associates
Tom Santley
Phone or Fax (626) 441-4594
tsantley@socal.rr.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: BANKING REAL ESTATE
SOURCE: Venture West Funding
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