Mountaingate Plaza
NEC First Street & Los Angeles Ave, Simi Valley, CA
GLA (SF): 300000 sq ft
DESCRIPTION:
Purchased a defaulted note through CRIIMI MAE and simultaneously negotiated a deed-in-lieu agreement with the borrower to acquire title to the property. Subsequently sold the property six months later for $2.5M more than the acquisition cost (prior to executing the redevelopment plan).
Major Tenants:
- Rite Aid
- Bally’s
- Edwards Theatres
- Coast Federal Bank