LOS ANGELES—Lucent Capital has secured loans in senior debt for the owners of three separate retail properties located in Los Angeles and Montana. The three loans total $32.3 million.

Cardinal Equities received $13 million for Camarillo Plaza shopping center in Camarillo, CA. The owner of the 73,858-square-foot shopping center received a seven-year loan priced at Libor +1.65% with a fixed rate below 4%. “This extremely attractive financing is a result of the high-quality asset and sponsorship, and Lucent's ability to create a market and negotiate the best possible terms on behalf of our clients,” says Lucent managing director Farzin Emrani.

Lucent also secured a $13 million loan for the Glen Centre in Los Angeles. The private, family owners of the 38,251-square-foot shopping center obtained the non-permanent financing to refinance the property, whose high-profile tenants include Starbucks and One West Bank. "The unique nature of the property's location and complementary tenant mix contributed to securing attractive terms for our client", says Steven Yazdani, managing director at Lucent. "There is truly no competition in the area and historically, the property hasn't had below a 90% occupancy rate since the 1980s." According to Lucent, they received a non-recourse loan with a 10-year fixed rate and an interest-only option for the first three years followed by a 30-year amortization.