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CBRE Recognized for Real Estate Industry’s "Best Use of Automation" by Realcomm

CBRE Facilitates $14.3 Million Loan for Acquisition of Grocery Anchored Shopping Center in Huntington Park, CA

Los Angeles, CA | March 8, 2019
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Los Angeles, CA - CBRE Debt & Structured Finance facilitated a $14.3 million loan on behalf of Sterling Organization for its acquisition of a grocery anchored shopping center in Huntington Park, CA.

Shaun Moothart, Dana Summers, Doug Birrell, Bruce Francis, and Robert Ybarra of CBRE’s Debt and Structured Finance team arranged the 7-year, non-recourse fixed-rate loan that was comprised of full-term interest only.

Sterling Organization, which is headquartered in Palm Beach, FL, is a vertically integrated private equity real estate firm that has an established track record of providing risk-adjusted returns to its partners, in both relative and absolute terms. The company is focused on investing in retail real estate assets across the risk spectrum in major markets within the United States on behalf of Sterling’s principals in partnership with the highest quality institutional investors.

“Well-located, grocery-anchored retail real estate is continuing to drive great interest from investors and lenders alike,” said Summers.

Moothart added, “Leveraging CBRE’s vast relationships, we were able to canvass the market to identify several competitive bids from across the spectrum, including life companies, debt funds, banks and CMBS lenders. This competitive bid process allowed for maximum exposure and ultimately led to the most attractive financing for Sterling’s strategy.”

The center, which is anchored by Food 4 Less, is 93% occupied and comprised of four buildings with a total of 22 in-line tenants. The shop space tenants include both national and regional tenants, including Little Caesars Pizza, LA’s Auto Insurance, C&T Nail Salon, Santa Fe Family Dental Group and Jackson Hewitt.

The property sits in an infill area with more than 1.1 million residents within a 5-mile radius and a traffic count of 54,000 cars passing through the intersection per day. The Los Angeles retail sector is continuing its strength, buoyed by a wide spectrum of retail tenants, which propelled leasing activity in the fourth quarter, resulting in 150,553 sq. ft. of positive net absorption, according to CBRE research. Retail centers, boasting online-resistant, experiential offerings, including food, fitness and entertainment, have continued to perform well. 
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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Nadja Brandt
Corporate Communications, Pacific Southwest
+1 213 6133627
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