CHARLOTTESVILLE, VA. — JLL Capital Markets has arranged a $74.5 million loan for the refinancing of the Shops at Stonefield, a 267,294-square-foot shopping center located in the Central Virginia city of Charlottesville, just two miles north of the University of Virginia. Brian Gaswirth, Evan Parker, Gus Caiola and Jude Carlon of JLL arranged the three-year loan through FS Credit Real Estate Income Trust on behalf of the borrower, O’Connor Capital Partners.
Shops at Stonefield is anchored by Trader Joe’s and a 14-screen Regal Cinema. Other tenants include L.L. Bean, lululemon and Sephora. The center is currently 98 percent leased but only 92 percent occupied, according to JLL.
Shops at Stonefield is part of a 43.5-acre master-planned community that includes a 137-room hotel, 455,000-square-foot manufacturing facility occupied by aerospace giant Northrop Grumman Corp. and three residential properties totaling 686 units, including a recently delivered, 227-unit luxury multifamily community.