THE VILLAGE AT NIPOMO IN SAN LUIS OBISPO RECEIVES $8.4M

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SAN LUIS OBISPO, CALIF. — The Village at Nipomo, a 37,939-square-foot retail center in the San Luis Obispo suburb of Nipomo, has received $8.4 million in acquisition financing. The center is located on West Tefft Street, one block west of Highway 101. It was fully leased to 15 tenants, including Starbucks, Wells Fargo, a day spa, an antique store, a real estate office, a pizza parlor, a pet supply store and a dry cleaner. The 10-year, fixed-rate loan has a 30-year amortization schedule. The loan was originated by Don Burnes of Johnson Capital. The principals of the newly formed borrowing entity operate a real estate investment firm based in the San Francisco Bay Area.

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