CBRE Secures $36.4 Million Financing for La Cañada Flintridge Town Center

CBRE, the world’s largest commercial real estate services firm, has secured $36.4 million in post-acquisition financing for TRC to recapitalize its purchase of La Cañada Flintridge Town Center, a 115,939-square-foot retail property anchored by Target in La Cañada Flintridge.

The seven-year, interest-only loan was arranged by CBRE’s Capital Markets Debt and Structured Finance team.

The shopping center, which is 96.7 percent occupied, features a mix of national and local tenants including HomeGoods, Panera Bread, Habit Burger, and Taylor’s steakhouse. Situated at the corner of Foothill Boulevard and Los Angeles Crest Highway, the property benefits from its location directly off the 210 Freeway and the strong demographics of the surrounding area, where incomes exceed $297,000.

“For best-in-class sponsors like TRC and best-in-class assets like La Cañada Flintridge Town Center, the depth and breadth of debt capital available seeking these types of opportunities is as robust as we have seen in many years,” said Shaun Moothart, an executive vice president at CBRE who worked on the financing along with Bruce Francis, Bob Ybarra, Doug Birrell, Nick Santangelo, and Jim Korinek.

TRC, a private real estate investment firm based in Southern California, acquired the La Cañada Flintridge property for an undisclosed price. The financing arranged by CBRE will allow the firm to recapitalize the asset following the purchase.

CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Dallas, has more than 130,000 employees serving clients in over 100 countries. The firm provides a wide range of commercial real estate services including facilities, transaction and project management; property management; investment management; appraisal and valuation; leasing; strategic consulting; property sales; mortgage services, and development.