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Berkadia arranges financing for Santa Monica center
New York — The New York office of Berkadia Commercial Mortgage recently arranged $17.5 million in financing for 631 Wilshire Boulevard, a mixed-use property in Santa Monica, California. The borrowers are Pacshore Partners and GreenOak Real Estate.
The two-year loan came through Berkadia’s proprietary bridge lending program. It features two extension options for one year, a 65% loan-to-value ratio and a 75% loan-to-cost ratio.
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Bebe will rebrand at six Mills properties
Chevy Chase, Md. — Formerly known as 2b Bebe, Bebe has rebranded at six Mills properties across the country.
Shoppers will find the new Bebe concept at Arizona Mills (Phoenix), Franklin Mills (Philadelphia), Great Mall (San Francisco), Ontario Mills (Los Angeles), Potomac Mills (Washington, D.C.) and Sawgrass Mills (Ft. Lauderdale/Miami).
The Mills, a hybrid outlet concept, is one of Simon Property Group’s five real estate platforms.