NYL REI Originates $35M Loan for the Center at Rancho Niguel
LAGUNA NIGUEL, CALIF. — New York Life Real Estate Investors (NYL REI) has originated a $35 million mortgage loan for The Center at Rancho Niguel, located at 28281 Crown Valley Parkway in Laguna Niguel.
The loan has a 20-year term with an opportunity to borrow additional proceeds in the first 10 years of the loan. The borrower was Buie Stoddard Group, an institutional investor.
Tenants at the 120,000-square-foot retail property include Wells Fargo, Ralphs Fresh Fare, Jamba Juice, Loehmann’s Shoes, Thomasville Furniture, NY’s Upper Crust Pizza, El Pollo Loco and Precision Fitness.