Cerritos Center

Transaction Details

Cerritos Center is a 52,382 square foot retail property, located near the intersection of Artesia and Norwalk Boulevards in Cerritos, CA (Los Angeles). The center, anchored by Seafood City, a Filipino-American grocer, also contains approximately 25,000 square feet of in-line shop space, leased to a diverse lineup of local tenants.

The Proposition

Essex was approached by its private capital client to arrange non-recourse, long-term refinancing of the subject property.

Our Solution

Essex Financial Group arranged a $7 million 25-year fixed-rate, non-recourse loan. Michael Salzman and Ed Boxer arranged the financing with one of Essex's correspondent life insurance company lenders.