A joint venture between Western Avenue Capital and Northstar Enterprise Opportunity Fund I, LP announced that it has acquired Foothill Square Shopping Center, a 120,000 square foot anchored retail center in Oakland, CA. The well-established property was originally developed in 1962 and underwent a major renovation between 2013 and 2016 whereby the property was significantly … Read More
A joint venture between Western Avenue Capital and ALTO Real Estate Funds announced that it has acquired American Fork Shopping Center, a 148,180 square foot anchored retail center in American Fork, UT, a suburb of Salt Lake City, UT. The acquisition price equates to a mid-8% going-in cap rate, providing mid-teens cash on cash returns … Read More
Nationwide Life Insurance Co. has provided a $21 million loan against Western Plaza, a 115,341-square-foot retail property in Los Angeles. The 10-year loan was arranged by HFF. The property, at 1645-1717 Western Ave., is owned by Western Avenue Capital of Los Angeles. It is fully leased by tenants that include CVS, Anna’s Linens and Food … Read More