JLL Capital Markets has successfully secured a $140 million financing package for Crossings at Corona, an 833,995-square-foot retail power center located in Corona. The borrower, Castle & Cooke, was represented by JLL’s Debt Advisory team led by Managing Director John Marshall and supported by Director Spencer Seibring and Analyst Nick Englhard. Deutsche Bank AG provided the balance sheet loan.
According to Marshall, “The retail sector is making a strong comeback in the large loan market.” He also highlighted Castle & Cooke’s impressive track record and exceptional management team as key factors that attracted multiple bank and non-bank balance sheet bids during the market process. Despite challenging conditions in the capital markets landscape at the time of closing, Castle & Cooke executed flawlessly with favorable swap pricing.
Crossings at Corona was completed in 2005 and features top-tier tenants such as Target (shadow anchor), Marshall’s Kohl’s Ross HomeGoods Sportsman’s Warehouse Burlington Regal Cinemas along with other national retailers/restaurants providing shoppers with a diverse mix of shopping and entertainment options.
