Pacific Equity Properties secures $135m for class AA mixed-use center in Malibu

Pacific Equity Properties announced that it secured $135 million in first-lien financing for Cross Creek Ranch, a 122,324-square-foot, trophy, class AA mixed-use property in Malibu, Calif. The property consists of 71,605 square feet of retail and 50,719 square feet of creative, modern office space.

JLL worked on behalf of the borrower to secure the five-year loan from Torchlight Investors.

Located in the heart of Malibu, the property consists of 10 one- and two-story buildings and a subterranean parking garage. Tenants include a mix of luxury retail, boutiques and eateries, as well as creative, modern office users.

Cross Creek Ranch is located at 23465 Civic Center Way in the renowned beach community of Malibu, which boasts an estimated 15 million tourists per year. Strategically positioned on 13 acres, it is directly adjacent to a Whole Foods Market in the core of Malibu’s shopping district, which also includes Malibu Country Mart, Malibu V