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SIMI VALLEY, CALIF. — Archway Capital has provided a $22.8 million loan for the purchase of Simi Valley Town Center, a 637,728-square-foot, open-air retail center situated on more than 42 acres in Simi Valley. Archway closed the non-recourse, two-year loan within 30 days of origination on behalf of the undisclosed borrower.
Marshalls, Ulta Beauty, Studio Movie Grill, Five Below, California Pizza Kitchen, Red Robin, Verizon Wireless, Corner Bakery and Starbucks Coffee are tenants at the center, which is located at 1403-1685 Simi Town Center Way and was built in 2005.
According to Archway Capital, the new ownership has a strategic plan to reposition the property to lifestyle retail over the next 12 months.