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IRVINE, CALIF. — Von Karman Plaza, a 241,539-square-foot retail property in Irvine, has received $35 million in refinancing. The plaza is located at 16585 Von Karman Ave. The center was undergoing a repositioning prior to the refinancing, as several large blocks of space had been vacated, including a Sam’s Club building. The owner, Harsch Investment Corp., renovatedthe plaza and has since filled a majority of the vacated space with new tenants, including Walmart.
The loan features a 10-year term and a 30-year amortization schedule. It was arranged by Ken Griggs and Paddy Ryan of Norris, Beggs & Simpson Financial Services. Financing was provided by ING Investment Management.