Two Suburban Retail Centers Land $72M

LOS ANGELES-Two suburban retail centers in Fullerton, CA, and Lacey, WA, have secured a combined total of $71.7 million in CMBS loans, GlobeSt.com learns in this exclusive story. Orangefair LLC received $44.8 million for its namesake retail center located at East Orangethorpe and South Harbor Boulevard in Fullerton. The LLC took advantage of current lower interest rates by refinancing before the maturity of the loan. The Landing at Hawks Prairie LLC received the remaining $26.9 for its namesake retail center in Lacey, WA, to pay off the construction loan from second development phase and to consolidate the existing first trust deed with the maturing construction loan.