LOS ANGELES, Feb. 16, 2023 – JLL Capital Markets announced today that it has closed the $13.4 million refinancing for the District Moreno Valley, a brand-new, 52,081-square-foot, Sprouts-anchored retail center located in Moreno Valley, California.
JLL represented the borrower, Ledo Capital Group, to secure financing with Manufacturers Bank.
Completed in 2022, the District Moreno Valley is anchored by Sprouts. Additional tenants include KFC, The Joint Chiropractic, WSS and Starbucks.
Located at the intersection of the 60 Freeway and Heacock Street, the District Moreno Valley offers unparalleled retail visibility of over 58 million vehicles on an annual basis. Moreno Valley is the second largest city in the Inland Empire based on land area and has an abundance of land for future residential development, allowing it to maintain its status as one of the fastest growing cities in the state for the foreseeable future.
The JLL Capital Markets Debt Advisory team that represented the borrower was led by was Senior Director Matt Stewart and Analysts Chris Jaffe and Daniel Skerrett.
“The District Moreno Valley is a case study on how to reposition real estate into its highest and best use. This was a transformative project to the area, and JLL was honored to be a part of the process,” said Stewart.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
