Kari Hamanaka

Los Angeles

Reuben Brothers’ Century Plaza nabs first wellness center from Sam Nazarian, Tony Robbins

TRD Staff

Albertsons to peel of 63 SoCal markets ahead of trial to decide Kroger merger

Albertsons to sell off 63 California supermarkets ahead of Kroger merger trial

Isabella Farr

Sam Nazarian’s SBE Signs Lease at Century Plaza

Sam Nazarian’s SBE takes 15K sf of retail Reuben Brothers’ Century Plaza

All Markets

LA retail market

Macerich Faces “Imminent” Default on Santa Monica Mall Loan

Macerich faces “imminent” default on $300M Santa Monica Place loan

Primestor Buys Oxnard Mall From DRA Advisors

DRA Advisors sells Oxnard mall at 5% discount to 2018 purchase

Pacific Equity Partners has scored a $135 million loan to refinance Cross Creek Ranch, a large Malibu retail and office development slated to open this year. Torchlight Investors provided the five-year loan, according to property records and an announcement from JLL, which arranged the financing. Terms of the deal were not disclosed. The 122,000-square-foot property, at 23465 Civic Center Way, is about 60 percent retail and 40 percent office space, according to JLL. The loan values the property at upwards of $1,200 a square foot. According to the website for the development, it’s set to open this year, though no tenants have been announced yet. Jay Luchs, a luxury retail broker at Newmark who is involved in the project, plans to open his own business at a 600-square-foot location at the property, CoStar reported last year. The loan replaces $130 million in construction financing, provided by Related Fund Management in 2021, records show. The property is set to be the largest development approved by the beachside city since it was formally incorporated in 1991. It will sit right next to Malibu Country Mart, owned by Koss Real Estate, and Malibu Village. Stan Kroenke, the billionaire owner of the Los Angeles Rams, bought Malibu Village in June for $81.5 million, or about $1,600 per square foot.

Pacific Equity scores $135M refi on Malibu retail-office project

Reuben Brothers to Open Three Restaurants at Century Plaza

Reuben brothers sign three high-end restaurants at Century Plaza

Rick Caruso and 889 Americana Way in Glendale