Woodland Hills, CA-based NewMark Merrill Companies completed a recapitalization totaling $26.6 million of two retail centers. Bristol Warner Village, located in Santa Ana, CA, underwent a $19.1-million refinance, and Fort Collins Marketplace, located in Fort Collins, CO, underwent a $7.5-million refinance.
Bristol Warner Village, located at Bristol Street and Warner Avenue, is an 80,865-square-foot property that recently underwent redevelopment. The 98.5%-occupied center includes a strategic mix of tenants such as Starbucks, 99 Cent Only, Chase, T-Mobile and Metro PCS.
NewMark Merrill’s Sandy Sigal, Susan Rorison, James Patton and Sandra Kist handled the Bristol Warner Village refinance.
“These quality retail centers have seen a significant amount of leasing activity and capital improvements over recent months,” said Sigal. “By recapitalizing these assets, we are able to accomplish our business plan of stabilizing them financially for the long-term, enabling us to provide best-in-class properties for their tenants and communities.”
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