AMI Capital Closes $5 Million Retail Loan in Southern California.Business Editors LOS ANGELES--(BUSINESS WIRE)--Nov. 14, 2000 AMI Capital, Inc. closed a $5,080,000 loan on an in-line shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into and freestanding Taco Bell Taco Bell Corp., a subsidiary of Yum! Brands, Inc., is a Mexican-style quick service restaurant chain based in Irvine, California, United States. The restaurant has locations primarily in the United States and Canada, but also operates outlets in several other markets. in Thousand Oaks, California Thousand Oaks, commonly referred to as "T.O." by residents, is a city in southeastern Ventura County, California, in the United States. It was named after the many oak trees that grace the area, and the city seal is adorned with an oak. . The commercial acquisition loan for a portion of Conejo Valley Plaza, at a rate of 8.45 percent, carries a 10-year term with 30-year amortization. The loan-to-value was 75 percent, and debt service coverage was 1.20. Occupancy at closing was 100 percent. Eric Salveson and Brent Lister, managing directors of AMI Capital's Los Angeles office, handled the transaction. The property, located at 1330 & 1334-1378A North Moorpark Road in Thousand Oaks, was built in 1971. The property contains 37,456 net rentable square feet in two, one-story buildings, including the Taco Bell, which is a freestanding building with 3,600 square feet. The acquired property is part of a larger neighborhood shopping center called Conejo Valley Plaza, containing more than 200,000 net rentable square feet. Conejo Valley Plaza is a mix of in-line shops, anchor tenants including Ralph's grocery store and Sav-On Drugs, and out-parcel buildings. The center includes a paved parking lot, greenbelt landscaping along Moorpark Road, and large trees and planters throughout the parking area. AMI Capital is a nationwide mortgage lender focusing on loans for multifamily housing communities, office buildings, luxury hotels, industrial properties, retail centers and senior housing. Since its inception in 1990, AMI Capital's portfolio has grown to more than $1.7 billion. Headquartered in Bethesda, Maryland, AMI Capital's principals include ULLICO ULLICO Union Labor Life Insurance Company Inc., whose assets exceed $3 billion. The firm's product line consists of Fannie Mae Fannie Mae: see Federal National Mortgage Association. DUS DUS Driving Under Suspension (criminal charge) DUS Dwelling Unit (real estate) DUS Dynamic Underground Stripping DUS Dusseldorf, Germany - Dusseldorf (Airport Code) , FHA See Federal Housing Administration. FHA See Federal Housing Administration (FHA). and commercial programs, including conduits and life insurance financing products. AMI Capital's regional offices are located in Alexandria, VA, Atlanta, Columbus, OH, Denver, Kansas City, Los Angeles and Phoenix. |
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