Marathon Asset Management Provides $164M Mortgage Loan for Class A Mall in Thousand Oaks
Summary
NEW YORK--(BUSINESS WIRE)--Marathon Asset Management’s Commercial Real Estate platform originated a $164 million mortgage loan to fund Stockdale Capital Partners’ acquisition of The Oaks, a Class A regional mall located in Thousand Oaks, CA, an affluent community within the Greater Los Angeles Area. The Oaks is a 1.2 million square foot regional mall, situated on an expansive 85-acre site that is anchored by a Nordstrom, Dick’s Sporting Goods, and AMC Theaters. The Oaks serves an expansive trade area with robust demographics and has consistently demonstrated stable occupancy and strong sales on a per square foot basis. Marathon’s Commercial Real Estate Team, led by Managing Director Joseph Griffin, worked closely with the sponsor Stockdale Capital Partners to originate the senior acquisition loan. Our mortgage loan will allow Stockdale the flexibility to execute on their business plan by providing investable capital to update and improve this desirably located property to meet the strong local demand for retail,” said Joseph Griffin, Head of Commercial Real Estate at Marathon.