Marcus & Millichap Capital Corporation arranges $39 million construction loan for shopping center in French Valley, California
Marcus & Millichap Capital Corporation (MMCC) has arranged a $39.4 million construction financing for French Valley Marketplace, a grocery-anchored shopping mall located in French Valley, California. Funding was secured by Brandon Wilhite, Senior Managing Director of MMCC, along with Sunny Sajnani, Senior Managing Director, and Todd McNeill, Senior Managing Director, of IPA. The editing team is based in MMCC’s Dallas office.
The property is a fully licensed 22-acre commercial development project led by a partnership between Southlake, Texas-based Trinity Investors and Pasadena, California-based Halftery Development Company. The site is conveniently located at the northeast corner of State Highway 79 and Thompson Road and is anchored by tenants such as Grocery Outlet, Rite Aid, EoS Fitness, McDonald’s, Autozone and 7-Eleven.
“This was a complex and exciting project with many moving parts, which required coordination and creativity from all parties involved,” said Brandon Wilhite.
The non-recourse construction loan will provide funds to complete the horizontal and vertical construction of the project. Trez Capital, a Vancouver-based diversified real estate investment firm, acted as the construction lender for the transaction.
“I really appreciate the attention to detail and focus of the MMCC team. Their expertise, knowledge and experience were essential in bringing this complicated financing to fruition,” said Jay Fuquay, Trinity Investors.
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