VWF Arranges $18.03 Million on Shopping Center in Lakewood, CA
El Segundo, CA - (BUSINESS WIRE) - January 7, 2014 - Venture West Funding, Inc., a mortgage company headquartered in El Segundo, CA announced it has arranged an $18.03 million loan for the refinance of a neighborhood shopping center located at 2440 Carson Street in Lakewood, CA. The 7-acre site built from 1961-2011, is anchored by Kohl's and also includes Taco Bell, Burger King, Cal Bowl, Denny's, NuVision Federal Care, and The Rinks - Lakewood Ice. Regency Center serves as an entertainment and social hub for the thriving Lakewood community.
Matt Douglas of Venture West Funding arranged the financing through Farmers & Merchants Bank for an affiliate of Robertson Properties Group based in West Los Angeles. The loan is at a very competitive 10-year fixed rate with flexible pre-pay and a credit facility for future withdrawals. According to Mr. Douglas, "Together with Farmers & Merchants Bank, we came up with a structure that gave the borrower the ability to pay off the existing loan and provide an additional $3,830,000 credit line for future property improvements." The Venture West team worked closely with the borrower and lender to ensure a successful and efficient loan closing.
Venture West Funding was founded more than 17 years ago and has placed more than $8 billion in loan originations since 2001. 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 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).