Los Angeles, October 15, 2024 – Archway Capital announced today it has provided a $22.8 million loan for the acquisition of Simi Valley Town Center. Built in 2005 and situated on just over 42 acres, the 593,827-square-foot retail center is located at 1403-1685 Simi Town Center Way in Simi Valley, Calif.

“We are pleased to provide acquisition financing on this value-add asset on behalf of the experienced borrowers,” said Bobby Khorshidi, CEO with Archway Capital. “The new ownership has a strategic plan in place to reposition the center to lifestyle retail over the next 12 months.”

Jessica Carter, Vice President, Originations with Archway Capital added, “Archway successfully closed the non-recourse, 24-month loan within 30 days of origination. Bridge money was required due to the quick closing timeline and strategic repositioning plan for the property. Ultimately, we created bespoke short-term financing that provides time for the borrower to reimagine the center and attract new retail tenants to occupy the renovated space.”

Simi Valley Town Center, which totals 450,000 sf, includes tenants such as Marshalls, Ulta Beauty, Studio Movie Grill, Five Below, California Pizza Kitchen, Red Robin, Verizon, Corner Bakery, and Starbucks. The property is ideally located directly off Highway 118 and is within Ventura County (greater Los Angeles market).

About Archway Capital

Archway Capital is an alternative investment manager based out of Los Angeles that provides bridge financing secured by commercial and residential real estate nationwide. Archway and its affiliated funds have over $600 million in assets under management (AUM). Archway offers quick, reliable, and flexible lending solutions to help real estate sponsors meet their investment objectives. The firm finances the recapitalization or purchase of real estate transactions between $2 million and $25 million. Since 2002, Archway and its principals have been responsible for funding more than $1.5 billion of debt.