Westwood Financial has expanded its corporate credit facility by $145 million, bringing the total to $470 million as the Los Angeles-based retail real estate investment firm accelerates its long-term growth plans. The firm, which marked its 55th anniversary this year, said the expanded facility strengthens its financial flexibility, enhances liquidity, and positions it to capitalize on new investment opportunities across its nationwide portfolio of more than 125 neighborhood shopping centers.
The new financing builds on a $70 million term loan upsize completed in 2024. Further, it increases the firm’s access to capital by adding $70 million in term loans and increasing its revolving credit facility by $75 million. Both the term loans and the expanded revolver mature in 2029 with an optional one-year extension. The company said the updated facility also includes meaningful spread compression, reflecting its improving credit profile.
The transaction was led by a consortium of major lenders, including KeyBank, Capital One, and Truist Bank as Joint Lead Arrangers, with KeyBank serving as Administrative Agent. Additional participating banks include Mizuho Bank, City National Bank, Synovus Bank, First Financial Bank, and S&T Bank. KeyBanc Capital Markets will continue to act as Westwood Financial’s lead arranger.
Westwood Financial said proceeds from the additional term loans will be used to refinance higher-cost debt and address near-term maturities. And while the larger revolving credit facility will provide low-cost liquidity that supports opportunistic acquisitions and portfolio initiatives. The firm also recently completed $50.8 million in refinancing for two shopping centers located in Chandler, Arizona, and Westminster, Colorado, bringing its total capital raised in 2025 to nearly $200 million.
The company continues to maintain a dominant presence in the Sunbelt region and reports ninety-six percent occupancy across its portfolio of grocery-anchored, service-oriented shopping centers.
KEY QUOTES:
“We are pleased to continue leading Westwood Financial’s banking facility and to support the firm’s ongoing growth initiatives. The recast and upsize of the facility meaningfully enhance Westwood’s financial agility, providing the expanded capacity and strategic flexibility necessary to advance their disciplined investment strategy.”
Andy McKown, Managing Director, KeyBanc Capital Markets Real Estate Syndications
“Capital One appreciates the opportunity to continue our support of Westwood Financial as it continues to cultivate a best-in-class, grocery-anchored portfolio.”
Michael Sleece, Senior Managing Director, REIT Investment Banking, Capital One
“Truist is pleased to support the capital expansion of Westwood Financial. This financing reflects our commitment to delivering flexible capital solutions for high-quality portfolios. We look forward to supporting Westwood Financial’s continued growth.”
Francine Glandt, Managing Director, Real Estate Corporate Banking, Truist
“The recast and expansion of the credit facility meaningfully enhance Westwood Financial’s financial flexibility and position the firm to pursue strategic growth while maintaining a disciplined approach to risk across market environments. The improved terms increase our capacity to execute our long-term investment strategy and advance key portfolio initiatives.”
Juyuan Wei, Chief Financial Officer, Westwood Financial
