Northmarq Secures $65M Bridge Loan for Murrieta Town Center
Northmarq’s Los Angeles Commercial Investment Sales team, led by Bryan Ley and Tim Kuruzar, in partnership with the firm’s Newport Beach Debt + Equity team, led by Joe Giordani and Alex Kane, successfully arranged the recapitalization and financing of Murrieta Town Center. The 380,137-square-foot grocery-anchored power center is located at 39815-39855 Alta Murrieta Drive and 40461-40489 Murrieta Hot Springs Road in Murrieta, California.
Ley and Kuruzar, both members of Northmarq’s National Shopping Center Group, facilitated the recapitalization on behalf of U.S. Realty Partners. Arc Capital Partners, based in Los Angeles, has joined as the new joint venture partner in the project.
“Murrieta Town Center drew tremendous interest from outright sale options, recapitalization investors, and a mix of private and institutional capital sources,” said Ley. “This transaction further demonstrates the increased demand in grocery-anchored power centers that deliver value-add returns with both near- and long-term growth potential.”
To support the recapitalization, Northmarq arranged a $65 million bridge loan for U.S. Realty Partners through a lending relationship with Principal Financial Group. The financing was structured on a three-year term.
Originally constructed in 1987 and extensively renovated in 2022, the Murrieta Town Center features a strong tenant lineup including Amazon Fresh, Marshalls, Burlington, Five Below, Dollar Tree, Famous Footwear, and Floor & Decor.
