2008-07-14 23:32:07 -

www.venturewestfunding.com/ - Southern California-based Venture West Funding, Inc. announced it has arranged a $17.5 million mortgage loan on a Ralphs retail center in Santa Monica, CA. The center is located at 1644 Cloverfield Boulevard and Ralphs Supermarket is the single-tenant with a 55,000 sf-building. Matt Douglas of Venture West Funding arranged the financing through Washington Mutual Bank for affiliates of

Robinson Properties Group.

According to Douglas of Venture West, "We secured a 10-year fixed, non-recourse loan for the owner at a very competitive rate. The property was purchased initially for cash in August 2007 at a price over $29 million. This is the first financing for this property."

"With the credit crunch, we look at several funding sources to match our clients' needs. We have found that some banks are open to larger, single-tenant loans while others, even at the same large amount, prefer properties with multiple tenants. Lenders are changing their loan policies and adjusting the mix in their portfolios. For this property, we worked with WAMU and secured the large loan for our client in just six weeks," said Douglas.

"This loan confirms why professional mortgage experience is paramount for borrowers to break through the maze of lenders, portfolio policies and loan options. At Venture West Funding, we have a network of capital sources and a processing system that allows us to complete mortgage loans at competitive rates in the shortest amount of time," added Douglas.

Venture West Funding was founded over 18 years ago and has funded more than $6 billion in loan volume since 2002. Venture West is one of the largest firms of its kind operating throughout Southern California, and specializes in providing mortgage loans secured by apartment buildings, commercial properties and single-family homes to a wide variety of borrowers. Venture West is headquartered at 2301 Rosecrans Avenue, Suite 3100, El Segundo, California, 90245 (310.706.4450). The firm also maintains a full-service office in Orange County at 2 Park Plaza, Suite 220, Irvine, California 92614 (949.475.5573).

Venture West Funding, Inc.
Matt Douglas, 310-706-4450, x 229
mattd@ventwest.com
www.venturewestfunding.com
or
Santley Associates
Tom Santley, 626-441-4594
tsantley@socal.rr.com