JLL Capital Markets successfully secured a $135 million first lien financing for Cross Creek Ranch, a premier mixed-use property located in Malibu. The loan was obtained from Torchlight Investors and will be used by the borrower, Pacific Equity Properties, to support their development of the property.
The 122,324-square-foot property boasts 10 buildings with a mix of retail and office space. With its prime location at 23465 Civic Center Way in Malibu, it has attracted top luxury retailers and modern office users.
Pacific Equity Properties is an established developer and owner of shopping centers and mixed-use properties founded in 1986 by Bryan Gordon. According to Gordon, the demand for this project’s debt capital was driven by its unbeatable location as well as strong leasing activity prior to certificate of occupancy.
Leading the team at Torchlight Investors was Jon Stein who serves as partner and co-head of private acquisitions. This successful financing deal further solidifies JLL Capital Markets’ expertise in securing funding for high-value properties like Cross Creek Ranch.
