Janss Marketplace in Thousand Oaks has received a substantial refinancing package.
Jones Lang LaSalle Inc.’s Capital Markets division closed the $84.7 million refinancing for Janss Marketplace, a 456,390-square-foot, grocery-anchored regional retail center.
JLL Capital Markets represented the borrower, an affiliate of Maxxam Enterprises, to secure the financing with TerraCotta Credit Fund, LP.
The JLL Capital Markets Debt Advisory team was led by Senior Director Matt Stewart, Director Alethia Halamandaris and Analyst Chris Jaffe.
Built in phases from 1959 to 1999 and renovated in 2007 and 2020, the 90% occupied center currently attracts 4 million visitors annually.
Located at 165-401 N. Moorpark Road, Janss Marketplace has a diverse tenant mix. The property is currently anchored by Aldi and includes Ulta, Petco, Old Navy, Five Below and Golds Gym. Aldi is a grocer with over 10,000 locations across 20 countries.
“Janss Marketplace is located in one of the strongest sub-markets in Southern California and will be one of the premier mixed-use destinations in the region,” Stewart said in a statement. “ This was an amazing execution in today’s market environment; we worked with TerraCotta to structure a bespoke financing solution that met all of the sponsor’s objectives.”