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MONROVIA, CALIF. — Calmwater Capital has provided $19.8 million in financing to 723 EHD LLC for the acquisition and lease-up of Shamrock Center, a retail center located at 723-727 E. Huntington Drive in Monrovia.
The financing consists of a $9 million senior term loan for the acquisition of the property and $10.8 million in additional potential funding for future leasing and tenant improvements.
At the time of sale, the 98,000-square-foot property was 90 percent vacant due, in part, to the loss of its anchor tenant, a 70,000-square-foot Albertson’s that closed as a result of a consolidation strategy.