December 4, 2015
Lucent Capital recently arranged a $14-million loan to recapitalize a 38,189-square-foot shopping center in Mission Viejo.
The non-recourse financing has a 4.25-percent fixed interest rate over 10 years from a foreign bank. It is being utilized to refinance existing debt and enable sponsors to recapture equity. The property, on 3.5 acres, was built in 1977 and has three buildings and two pads.
Located adjacent to the San Diego Freeway (405), the shopping center was renovated recently, and has a mix of national and regional tenants.