**CBRE Arranges $50 Million Refinance Loan for Park West Place in Stockton**
CBRE has secured a refinancing loan of approximately $50 million for Park West Place, a premier 554,438-square-foot retail power center located in Stockton, California. The financing was arranged on behalf of Raider Hill Advisors and Farallon Capital Management, LLC. The loan was provided by a national bank.
The deal was executed by CBRE’s Debt & Structured Finance team, consisting of Richard Henry, Mike Ryan, Brian Linnihan, and Shaun Moothart, who represented the sponsorship group in the transaction.
“Park West Place is a best-in-class retail asset with strong fundamentals and a highly diversified rent roll,” said Richard Henry. “The sponsorship has done an exceptional job executing their business plan and driving revenue growth.”
Originally built in 2008, Park West Place spans approximately 58.6 acres and is currently 96.4% leased. It houses 46 tenants, including national anchor retailers such as Lowe’s, Kohl’s, Sportsman’s Warehouse, Ross Dress for Less, and TJ Maxx. Over 40% of the net rentable area is leased to investment-grade tenants.
The property is strategically located within the Central Stockton retail submarket, which has maintained a vacancy rate below 5% for more than a decade. This stability underscores the strength of the local retail environment and the desirability of the asset.
