In partnership with Banc of California, Republic Urban Properties receives a $24M loan for Republic Square at Livermore, a 64,000 sq ft retail center.

LIVERMORE, CA, USA, September 6, 2023/EINPresswire.com/ -- Republic Urban Properties, a leading real estate investment, development, and management company on the West Coast, today announced the closing of a $24M bridge loan with the Banc of California for Republic Square at Livermore, a 64,000 sq. ft. retail center. The $24M bridge loan, funded by Banc of California, with Republic Urban Properties as the developer and sponsor of the deal, affirms the strategic partnership aimed at bolstering community development and attracting new businesses into the Livermore area.

Banc of California’s bridge loan will serve as a key financial cornerstone for the project, enabling Republic Square at Livermore to flourish in its mission to bring growth and vitality to the community. The loan will specifically act as a “bridge” to a brighter future, helping to attract new businesses such as Chick-Fil-A, Starbucks, and Taj Mahal, among others.

Located next to the San Francisco Premium Outlets, Republic Square at Livermore is now 67% leased and 81% pre-leased with notable tenants including Starbucks, Meet Fresh, Chako BBQ Hot Pot, and Harumi Sushi Buffet, Glo Yoga, Deka Lash, Summer Dream Spa, Cali Kid Burgers and Shakes, SFO Hanger Gastropub, Pho Ao Sen, The Burgundy Tea Room, and The Everest Bakery.

Brian Yi, Vice President Investments of Republic Urban Properties, says, "This bridge loan is more than just financing – it's a strategic move that sets the stage for the impactful community development we envision at Republic Square at Livermore. Especially in an increasingly complex financial landscape, exacerbated by COVID and the high-interest-rate environment, it's pivotal to have a partner like Banc of California, a financial institution that genuinely understands our mission and the potential transformative impact of the project and has the expertise and flexibility to make a project like this a success."

Michael Nguyen, EVP and Head of Real Estate of Banc of California, says, “Banc of California is thrilled to team up with Republic Urban Properties. More than just a transaction, it’s an opportunity to strengthen our relationship, offer a tailored lending solution, and support our client's mission to promote sustainable developments and invest in a vision for a thriving community.”

The $24M bridge loan will empower Republic Square at Livermore to grow and mature, especially during these times when many businesses face significant financial challenges. The development is expected to serve as a business hub, inviting prominent industry leaders to lease spaces.

For leasing inquiries, please reach out to:
Austin Chaparro, Meacham Oppenheimer Inc.
austin@moinc.net
408.378.5900

Ryan Warner, Meacham Oppenheimer Inc.
rwarner@moinc.net
408.477.2505

About Republic Urban Properties
Republic Urban Properties is the West Coast Division of the Republic Family of Companies, known for developing quality real estate throughout the United States that offer transit-oriented development and green building opportunities. Focusing on infill and urban development, our experience building a variety of product types—including residential, hotel, retail, office, and mixed-use—gives us the flexibility to create projects that realize the highest and best use of the land. Our decades of experience working closely with state, county, and city governments in the region has helped us successfully navigate the intricacies of the regulatory environment and play an integral role in making the Bay Area one of the top three multifamily markets in the country. Additional background on the Republic Family of Companies can be found our the website: www.republicfamilyofcompanies.com/

About Banc of California
Banc of California, Inc. (NYSE: BANC) is a bank holding company with $9.37 billion in assets at June 30, 2023 and one wholly-owned banking subsidiary, Banc of California, N.A. (the Bank). The Bank has 33 offices including 27 full-service branches located throughout Southern California. Through our dedicated professionals, we provide customized and innovative banking and lending solutions to businesses, entrepreneurs and individuals throughout California, and full stack payment processing solution through our subsidiary Deepstack Technologies. We help to improve the communities where we live and work, by supporting organizations that provide financial literacy and job training, small business support and affordable housing. With a commitment to service and to building enduring relationships, we provide a higher standard of banking. We look forward to helping you achieve your goals. For more information, please visit us at www.bancofcal.com.

Erin
PRxDigital
+1 847-287-5515
erin@prxdigital.com
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