**Optimus Properties Secures $21.5M Financing for Juanita Tate Marketplace in Los Angeles**
Optimus Properties, LLC has secured a $21.5 million loan for the Juanita Tate Marketplace, a 77,096-square-foot, grocery-anchored retail center located on 6.63 acres in Los Angeles. The five-year, interest-only loan was arranged by a JLL Capital Markets team led by Director Alex Olson and Associate Daniel Skerrett. The financing was provided by JP Morgan Asset Management.
“Juanita Tate Marketplace represented an exceptional and unique investment opportunity in one of the densest parts of Los Angeles,” said Olson. “The property has a fascinating history, which included eminent domain development to remedy a longstanding food desert and a 17-year escrow process. Strong anchor tenants, a diverse mix of national retailers, strategic location, and strong sponsorship contributed to its appeal in securing favorable financing terms.”
Originally built in 2014, the Juanita Tate Marketplace is a thriving retail hub anchored by Northgate Market. The property is fully leased and includes a mix of well-known national tenants such as CVS, Panda Express, Starbucks, and Chase Bank.
