MetLife Real Estate Investments has placed a $200 million, five-year, floating rate first mortgage on the Los Cerritos Center in Cerritos, CA.MetLife Real Estate Investments has placed a $200 million, five-year, floating rate first mortgage on the Los Cerritos Center The Los Cerritos Center in Cerritos, California is an upscale super-regional commercial shopping mall with a gross lease area of 1,288,245 square feet. It is located south of the San Gabriel River Freeway and Artesia Freeway junction. in Cerritos, CA. The loan has an initial funding of $130 million with up to $70 million available in future fundings. The 1.3 million square foot regional 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 is owned by a partnership between The Macerich Company and Ontario Teachers' Pension Plan The Ontario Teachers' Pension Plan (OTPP), commonly referred to as Teachers', is the organization responsible for administering pensions for public school teachers of Ontario. The OTPP also invests the plan's pension fund. Board and is anchored by Nordstom, Sears, Mervyn's and Macy's. Richard Benner of MetLife's Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , CA office led the transaction team on behalf of MetLife. |
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