VWF Arranges $17 Million Loan on Fairview Shopping Center in Goleta, CA
El Segundo, Calif.-(BUSINESS WIRE) – September 9, 2013--Southern California-based Venture West Funding, Inc. announced it has arranged a $17 million loan for a neighborhood shopping center in Goleta, CA. Fairview Shopping Center is located at the intersection of Fairview Avenue and Calle Real in Goleta. The 22-acre site was originally built in 1968 and completely remodeled in 2002. Owned by Fairview Shopping Center, LLC, the center is anchored by Vons, Bed Bath & Beyond, Orchard Supply Hardware, Michael’s Arts & Crafts, and Rite-Aid. Significant other tenants include: Union Bank, Wells Fargo Bank, Los Padres National Bank, Radio Shack and Starbucks.
Jean-Marc Herrouin of Venture West Funding arranged the financing through Goldman Sachs Commercial Mortgage Company. According to Herrouin, "The funds will replace a maturing loan Venture West Funding arranged 10 years ago. The new 10-year fixed rate is nearly 2% below the current debt which significantly improves the property cash flow. This large loan is an example of our ability to offer a diverse array of real estate financing options to our clients."
Venture West Funding, Inc. is a full-service mortgage banking firm that specializes in multi-family, commercial and single-family financing and provides every client with highly personalized guidance, tailored mortgage solutions, and efficient service. The firm was founded more than 15 years ago and has placed more than $7.9 billion in loan originations since 2001. 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).
Venture West Funding, Inc.
Published: September 09, 2013