$13,500,000 5-Year Financing for The Glen Centre in Beverly Hills/Bel Air

Transaction Description: 

George Smith Partners successfully arranged a $13.5 million refinancing on behalf of the owners of The Glen Centre, an irreplaceable 44,000 square-foot boutique retail center located in the heart of the Beverly Hills/Bel Air area.

Originally financed 10 years ago by GSP, the new 5-year loan was used to refinance existing CMBS debt on the property that was coming due in February 2024. Serving the surrounding Bel-Air/Beverly Hills community since 1978, this irreplaceable asset was one of L.A.’s first true community shopping centers, designed to meet the needs of surrounding residents by offering one-of-a-kind shops, restaurants and convenient services in a beautiful park-like setting.

  • Lender Type: Commercial Bank
  • Amount: $13,500,000
  • LTV: 40%
  • Rate: 285+1-Month SOFR
  • Term: 5-years
  • Origination Fee: 0.25%
  • Prepayment: Open/At-Par

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