Northmarq arranges recapitalization and $65M bridge loan for Murrieta Town Center in Murrieta, CA

MURRIETA, Calif. — Northmarq’s Los Angeles Commercial Investment Sales team led by Bryan Ley and Tim Kuruzar, in collaboration with its Newport Beach Debt + Equity team led by Joe Giordani and Alex Kane, successfully arranged the recapitalization and financing  of Murrieta Town Center, a 380,137-sq.-ft. grocery-anchored power center located at 39815-39855 Alta Murrieta Dr. and 40461-40489 Murrieta Hot Springs Rd. in Murrieta, California.

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 is 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,” Ley said. “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 facilitate the recapitalization, Northmarq arranged the $65 million bridge loan financing on behalf of U.S. Realty Partners through a relationship with Principal Financial Group. The transaction was structured on a three-year term.

“We covered the market and secured competitive core-floater and bridge options to provide hold period flexibility,” Giordani said. “We then assessed key qualitative factors, such as repeat partnership potential, lender relationship strength, and execution certainty to guide U.S. Realty Partners and Arc to the most advantageous financing outcome with Principal Financial Group.”

Built in 1987 and refurbished in 2022, Murrieta Town Center sits on 36.36 acres conveniently located at the intersection of Interstate 215 and Murrieta Hot Springs Rd. The property is anchored by Amazon Fresh, Marshalls, Burlington, Five Below, Dollar Tree, Famous Footwear, and Floor & Decor. It features approximately 49 tenants, including national and regional clothing, coffee, accessories, and more.

It features 2,031 parking spaces and is located along roughly a half a mile of freeway frontage roadway — offering visibility to roughly 113,000 cars per day. Murrieta Town Center drew roughly 3.8 million customer visits in the past 12 months, according to Placer AI data.