LOS ANGELES- Shooshani Developers LLC has secured at $27 million loan for the Hollywest Promenade, a 120,173-square-foot shopping center in Hollywood. The company received a 15-year, fixed rate loan AEGON USA Realty Advisors LLC, a commercial real estate division of AEGON Asset Management.

Located on Western Avenue at Hollywood Boulevard, the property currently has 95% occupancy. Tenants include Ross Dress for Less, Ralph's, Quizno's Subs and Jamba Juice. The loan will be used to pay off existing financing.

HFF helped to secure the loan in an effort led by managing director Brad Black and senior real estate analyst Jeff Sause.

There has been some interesting activity in the shopping center sector recently. GlobeSt.com reported last week that a new $21 million shopping center dubbed Juanita Tate Marketplace began construction in South Los Angeles. Weeks earlier, the Promenade at Howard Hughes Center announced plans to reposition the center into an entertainment retail destination with a focus on restaurants, activities and theaters.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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