Dealmaker: JLL Arranges $135M for Malibu, Calif., Mixed-Use Center

(Photo courtesy of JLL Capital Markets)

JLL Capital Markets, Chicago, secured $135 million in first-lien financing for Cross Creek Ranch, a 122,000-square-foot mixed-use property in Malibu, Calif.

The property has 71,605 square feet of retail and 50,719 square feet of modern office space.

JLL represented the borrower, Pacific Equity Properties, Santa Monica, Calif., and secured the five-year loan from Torchlight Investors, New York.

Located at 23465 Civic Center Way in Malibu, Cross Creek Ranch consists of 10 one- and two-story buildings plus a subterranean parking garage. Tenants include high-end retail boutiques and creative office users. The property sits adjacent to a Whole Foods Market in the core of Malibu’s shopping district, which also includes Malibu Country Mart, Malibu Village and Malibu Lumber Yard. The center is 13 miles from the Santa Monica pier and 21 miles northwest of Los Angeles International Airport.

“Malibu remains as one of the most thoughtful municipalities in the U.S. for community-focused and environmentally sensitive design,” Pacific Equity Properties Founder Bryan Gordon noted.

JLL Senior Director John Marshall led the debt advisory team with Associate Spencer Seibring and Analysts Allie Black and Tim Donald. The Torchlight Investors team was led by Jon Stein, partner and co-head of private acquisitions.

“Retail and mixed-use property is one of the most in-demand asset classes today,” Marshall said.