LAKEWOOD, CA-The Regency Center, a neighborhood retail property in Lakewood, CA, has secured $18.3 million to refinance the property. The financing allows the center to pay off its existing loan and retain a $3.8 million line of credit for future property repairs.
Venture West Funding secure the loan on behalf of the Regency Center. Matt Douglas of Venture West Funding was able to secure the loan through Farmers & Merchants Bank with a competitive fixed rate, a 10-year term and a flexible pre-pay option.
Located at 2440 Carson Street, the shopping center sits on 7 acres and has a diverse group of tenants, including Kohl's, Denny's, NuVision Federal Care and the local ice-skating rink as well as several fast food eateries.
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