Walker & Dunlop has arranged a $46-million refinance loan for Rosemead Place, a prominent retail center in Rosemead. The Walker & Dunlop Capital Markets Real Estate Finance team led by Trevor Fase and Lynn Pearson secured the fixed-rate, interest-only permanent debt loan provided by Joel Minugh and James Ko of Wells Fargo on behalf of a family office.
Located at the intersection of I-10 and Rosemead Boulevard, the 336,718-square-foot retail center features a diverse mix of national tenants including Target, LA Fitness, Ross Dress for Less, PetSmart, ULTA Beauty, and Dollar Tree. It serves as a primary retail destination for the surrounding community, according to Walker & Dunlop.
“Well-located, anchored retail assets like Rosemead Place continue to be viewed extremely favorably by a wide range of capital providers, including insurance companies, CMBS lenders, and regional and national banks,” said Fase. “Despite several moving parts, including near-term lease rollover, we successfully closed the transaction in less than 60 days.”
