Marathon Asset Management Finances $164M Mall Acquisition
Marathon Asset Management Finances $164M Mall Acquisition
Marathon Asset Management has recently made headlines by originating a substantial $164 million mortgage loan. This funding was specifically aimed at supporting Stockdale Capital Partners in their acquisition of The Oaks, an impressive Class A regional mall. Located in an affluent community within the Greater Los Angeles Area, The Oaks is a key player in the region's retail landscape.
The Oaks: A Vibrant Retail Destination
The Oaks spans a remarkable 1.2 million square feet and occupies a vast 85-acre site. This mall is a valuable asset for Stockdale as it showcases prominent anchor stores, including Nordstrom, Dick’s Sporting Goods, and AMC Theaters. Moreover, The Oaks boasts an impressive mix of national retailers such as Apple, Anthropologie, Zara, H&M, and Arhaus. Such a diverse range of tenants underscores its appeal in a trade area characterized by strong demographics and a vibrant shopping culture.
Creating Opportunities through Strategic Financing
Marathon’s Commercial Real Estate Team, with Managing Director Joseph Griffin at the helm, played a pivotal role in facilitating this senior acquisition loan. The collaboration with Stockdale Capital Partners has enabled both parties to explore innovative financing options that will enhance the property's value. The financing was arranged by Eastdil Secured, led by industry professionals Greg Stampley and Jessica Henning.
Joseph Griffin expressed enthusiasm about the partnership, stating, “We are excited to partner with Stockdale Capital Partners on their acquisition of The Oaks. Our mortgage loan provides the flexibility needed for Stockdale to execute their business plan, which includes making necessary updates and improvements to this highly sought-after property. Meeting local demand for retail spaces is a priority that we support.”
About Marathon Asset Management
Marathon Asset Management, L.P. stands as a monumental figure in global asset management, specializing in both public and private credit markets. The firm boasts an impressive portfolio of over $23 billion in assets under management. Since its establishment in 1998, Marathon has devised dedicated investment programs that cover various niches within private credit, including direct lending and opportunistic strategies. The leadership team, co-founded by Bruce Richards and Louis Hanover, oversees over 180 professionals and maintains headquarters in New York City, complemented by offices in London, Miami, Los Angeles, and Luxembourg. As a Registered Investment Adviser with the Securities Exchange Commission, Marathon is well-positioned in the financial landscape. Their commitment to keeping clients informed about their investments can be explored further through their official website.
Frequently Asked Questions
What is the purpose of the $164 million loan provided by Marathon?
The loan is intended to fund the acquisition of The Oaks mall by Stockdale Capital Partners, allowing for necessary improvements to enhance the property’s value.
Who are the key players involved in this transaction?
The key players include Marathon Asset Management, Stockdale Capital Partners, and Eastdil Secured, which helped arrange the financing.
What does The Oaks mall offer to shoppers?
The Oaks features a diverse mix of national retailers, major anchor stores like Nordstrom, and offers a variety of shopping and entertainment options for visitors.
What is Marathon Asset Management known for?
Marathon Asset Management is known for its expertise in public and private credit markets, managing over $23 billion in assets and providing innovative financing solutions.
How can I learn more about Marathon's investment strategies?
You can learn more about Marathon Asset Management's investment strategies and services by visiting their official website.
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