HFF Arranges $35.75 Million in Bridge Financing for Walnut Creek Shopping Center

By Nick Bell | March 9, 2017

Citivest Commercial and Tallen Capital Partners secured $35.75 million in bridge financing to reposition the Rossmoor Shopping Center in Walnut Creek, CA.

Rossmoor is a 106,281-square-foot, grocery-anchored shopping center completed in 1965 on 15.24 acres at the intersection of Tice Valley Blvd. and Rossmoor Pky. at 1900-1998 Tice Valley Blvd.

Home to CVS Pharmacy, JP Morgan Chase Bank, The UPS Store, US Bank, Wells Fargo and anchor tenant Safeway, the center will undergo a number of upgrades to include expanding the center to 133,576 square feet, adding a new drive-through CVS building, three new outparcel buildings, building exterior renovations and a slight expansion of the in-line space.

James Fowler and Wally Reid of HFF’s debt placement team arranged the three-year, floating rate loan with two one-year extensions through Los Angeles-based balance sheet lender, Mesa West Capital.