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Venture West Funding Arranges $18.3 Million Loan for
Rancho Marketplace in Burbank, CA
El Segundo, Calif.-(BUSINESS WIRE) – July 28,
2004--Southern California-based Venture West Funding,
Inc. announced today that it has arranged an $18.3 million
loan for Rancho Marketplace, a 102,786-sf shopping center
located in Burbank, California. The 10-year, fixed-rate
loan refinanced an existing mortgage and was arranged
by Matt Douglas of Venture West and funded through Bear
Stearns.
Built in 1992, Rancho Marketplace is 98% leased, occupied
by 20 tenants, and anchored by Pavilions (55,000 sq.
ft.) and Staples (17,000 sq. ft.). Other major tenants
include Denny’s, Starbucks, El Pollo Loco, and
GNC. Rancho Marketplace is located at W. Alameda Avenue
and S. Main Street in Burbank. The retail center was
developed by an affiliate of Robertson Properties Group,
which develops and manages commercial real estate throughout
Southern California.
According to Matt Douglas of Venture West, "Working
with the owner and the lender, we were able to maximize
the leverage of this quality retail center and lock
in a loan at today’s favorable interest rates.
The size of this financing reinforces Venture West’s
ability to offer a diverse array of real estate financing
options to our clients."
Venture West Funding, Inc. was founded nearly 10
years ago, and exceeded $1.0 billion in loan volume
during 2003. 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 2101 Rosecrans Avenue, El Segundo,
Calif. (310-364-3131). The firm maintains a full service
office at 9 Executive Circle, Irvine, Calif. (949-475-5573).
CONTACT: Venture West Funding
Matt Douglas
(310) 364-3131 Extension 229
Fax: (310) 364-0010
mattd@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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