June 22, 2017
Woodland Hills, CA-based NewMark Merrill Companies completed a $5.2-million refinancing of The Marketplace on Grove in Ontario, CA. The 207,000-square-foot mixed-use shopping center is anchored by a 165,643-square-foot Lowe’s Home Improvement Center, and was developed in 2007 by NewMark Merrill.
John Hancock’s William McPadden, Jeffrey Packard, Tom Treacy and Chris Bingham arranged the financing, with Pacific Southwest Realty’s Kostas Kavayiotidis helping facilitate the transaction. NewMark Merrill’s refinance team included Sandy Sigal, Susan Rorison, James Patton, and Sandra Kist.
The loan is NewMark Merrill’s third refinance completed with John Hancock Life Insurance so far this year, representing over $30 million in new financings. The other properties included Centers in Santa Ana, CA and Cottonwood Shopping Center in Fort Collins, CO.
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