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**Northmarq Secures $65M Bridge Loan for Murrieta Town Center Recapitalization**
Northmarq’s Los Angeles Commercial Investment Sales team, led by Bryan Ley and Tim Kuruzar, in collaboration with the Newport Beach Debt + Equity team headed by Joe Giordani and Alex Kane, has successfully arranged the recapitalization and financing of Murrieta Town Center.
Located at 39815-39855 Alta Murrieta Drive and 40461-40489 Murrieta Hot Springs Road in Murrieta, California, the 380,137-square-foot grocery-anchored power center is a prominent retail destination in the area.
Ley and Kuruzar, members of Northmarq’s National Shopping Center Group, facilitated the recapitalization on behalf of U.S. Realty Partners. Arc Capital Partners of Los Angeles has joined as the new joint venture partner.
“Murrieta Town Center drew tremendous interest from out-right sale options, recapitalization investors, and a mix of private and institutional capital sources,” said Ley. “This transaction further demonstrates the increased demand in grocery-anchored power centers that hit value-add returns with near and longer-term growth and upside.”
To support the recapitalization, Northmarq arranged a $65 million bridge loan through its relationship with Principal Financial Group. The financing was structured with a three-year term.
Originally built in 1987 and significantly renovated in 2022, Murrieta Town Center features a diverse tenant mix that includes Amazon Fresh, Marshalls, Burlington, Five Below, Dollar Tree, Famous Footwear, and Floor & Decor.
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