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Venture West Funding Arranges $11.455 Million Loan on Retail Center in San Antonio, TX
El Segundo, Calif.-(BUSINESS WIRE) – September 13, 2005--Southern California-based Venture West Funding, Inc. announced it has arranged an $11.455 million purchase loan for a retail center in San Antonio, TX. North Salado Village Shopping Center is located at 2335 NW Military Highway. The 172,657-sf center is anchored by Michael’s Stores, Inc. The tenant mix includes ACE Hardware, Washington Mutual, and 22 other retail, restaurant, and medical and personal service businesses.
The purchase price for North Salado Village was $14.1 million and the loan was arranged by Matt Douglas of Venture West Funding. The loan was placed with North Houston Bank for North Salado Village LLC, an affiliate of The Siegel Group, Inc., www.siegelcompanies.com, based in Studio City, CA.
According to Matt Douglas of Venture West, “Working with the owner and the lender, we were able to maximize the leverage of this center and lock in a loan at today’s favorable interest rates. The size and location of this financing reinforces Venture West’s ability to offer a diverse array of real estate financing options to our clients well-beyond our Southern California base.”
Venture West Funding was founded nearly 10 years ago, and has averaged about $900 million in annual loan originations during each of the past three years. 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
Matt Douglas
(310) 706.4450, Extension 229
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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