CBRE Facilitates $25.9M Acquisition Loan for North Ranch Gateway in Westlake Village
WESTLAKE VILLAGE, CALIF. — CBRE has arranged $25.9 million in debt financing Palm Beach, Fla.-based Sterling Organization’s acquisition of North Ranch Gateway, a retail center in Westlake Village. The vertically integrated private equity real estate firm purchased the 86,520-square-foot property for $35 million in 2018 on behalf of its managed funds.
Located at 30805-30895 Thousand Oaks Blvd., the property is anchored by TJ Maxx and was 78 percent occupied at the closing of financing. Shaun Moothart, Dana Summers, Bruce Francis, Bob Ybarra and Doug Birrell of CBRE’s Debt and Structured Finance team arranged the floating-rate financing.