Many believe that retail assets are un-financeable in the current market. It isn't surprising; the retail market has been significantly impacted by the now yearlong coronavirus pandemic. However, for the right retail assets, there is ample capital available for both acquisitions and refinancing deals.

CenterCal Properties' recent refinancing transaction is a prime example. The retail owner secured a $274.4 million for a six-property 2.7 million-square-foot retail portfolio on the West Coast. "Capital is tracking retailer performance closely, and it has varied greatly depending on location, business type and ability to adapt," Kevin MacKenzie, executive managing director at JLL, tells GlobeSt.com.

MacKenzie secured the funds on behalf of the borrower along with JLL senior managing directors Bruce Ganong and Paul Brindley, associate Sam Godfrey and analyst Spencer Bergthold. The JLL team secured five separate 10-year, fixed-rate, non-recourse CMBS loans through JP Morgan Chase. The funds will be used to retire existing debt and rebalance leverage across the portfolio.