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 Northmarq’s Los Angeles Commercial Investment Sales team led by Bryan Ley and Tim Kuruzar, in collaboration with its Newport Beach Debt + Equity team led by Joe Giordani and Alex Kane, arranged the recapitalization and financing of Murrieta Town Center, a 380,137-square-foot grocery-anchored power center located at 39815-39855 Alta Murrieta Dr. and 40461-40489 Murrieta Hot Springs Rd. in Murrieta.

Ley and Kuruzar, members of Northmarq’s National Shopping Center Group, facilitated the recapitalization on behalf of U.S. Realty Partners. Arc Capital Partners of Los Angeles is the new joint venture partner.

“Murrieta Town Center drew tremendous interest from out-right sale options, recapitalization investors, and a mix of private and institutional capital sources,” Ley said. “This transaction further demonstrates the increased demand in grocery-anchored power centers that hit value-add returns with near and longer-term growth and upside.” 

To facilitate the recapitalization, Northmarq arranged the $65-million bridge loan financing on behalf of U.S. Realty through a relationship with Principal Financial Group. The transaction was structured on a three-year term.

Built in 1987 and refurbished in 2022, Murrieta Town Center is anchored by Amazon Fresh, Marshalls, Burlington, Five Below, Dollar Tree, Famous Footwear and Floor & Decor.

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