Sonnenblick-Eichner Company Secures $17.5 Million Loan to Refinance LA High Street Retail
By: Sonnenblick-Eichner Company
Brentwood Town Center is located at the intersection of San Vicente Boulevard and 26th Street, in Brentwood, one of west Los Angeles' most affluent communities. Brentwood boasts a median household income of more than $120,000. The San Vicente Boulevard corridor is widely recognized as having some of Los Angeles' finest restaurants and retail stores.
Brentwood Town Center is a two-story luxury destination retail center with subterranean parking for 89 cars. The property is leased to a variety of high-end retailers, eateries and fitness outlets including Blue Bottle Coffee, Le Pain Quotidien, Blush LA, PlateFit, Bar Method, Nagao Sushi and Pressed Juicery.
The property is owned and managed by affiliates of Blatteis & Schnur, a Los Angeles-based owner and operator of High Street retail assets. The sponsor also developed the adjacent Brentwood Place shopping center, which is 100 percent leased to contemporary fashion boutique Theory. Sonnenblick-
"Being in an extremely attractive interest rate environment, we decided to take a targeted approach in our marketing efforts," said Sonnenblick-
"A CMBS structure provided the best execution for our client, since life insurance companies are imposing floor rates higher than what we were able to achieve from the CMBS market," added Sonnenblick-
DB&R Marketing Communications, Inc.