Westwood Financial, a Los Angeles-based retail real estate investment firm, has raised additional capital by closing a recast and $145 million upsize to its corporate credit facility, increasing the total facility to $470 million. The 55-year-old firm said the expanded financing strengthens liquidity and flexibility as it pursues a long-term growth strategy centered on neighborhood retail, particularly grocery-anchored assets.
The latest expansion builds on a $70 million term loan upsize completed in 2024. Further, it restructures the facility to add $70 million in term loans while increasing the revolving credit facility by $75 million. Westwood said the revised terms include spread compression, which it attributed to an improved credit profile, and provide increased capacity to support continued portfolio and investment activity. Both the term loans and the revolver mature in 2029 and include a one-year extension option.
Westwood said the proceeds from the term loan upsize will be used to repay higher-cost debt and address near-term maturities, while the expanded revolving credit facility is intended to provide additional low-cost liquidity to support investment opportunities as they emerge.
The firm also highlighted separate refinancing activity completed in 2025, including the refinancing of The Boardwalk at Andersen Springs in Chandler, Arizona, and The Shops at Walnut Creek in Westminster, Colorado. Westwood said those refinancings totaled $50.8 million and brought its total capital raised in 2025 to nearly $200 million.
Westwood said it owns and manages more than 125 properties with portfolio occupancy of 96% and maintains a significant presence in the Sunbelt region.
Support: The financing was provided by a bank group led by KeyBank, Capital One, and Truist Bank as joint lead arrangers, with KeyBank serving as administrative agent. Additional lenders participating in the facility include Mizuho Bank, City National Bank, Synovus Bank, First Financial Bank, and S&T Bank. Westwood said KeyBanc Capital Markets will continue to serve as lead arranger for the facility.
KEY QUOTES:
“We are pleased to continue leading Westwood Financial’s banking facility and to support the firm’s ongoing growth initiatives,” said Andy McKown, Managing Director of KeyBanc Capital Markets Real Estate Syndications. “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,” said Michael Sleece, Senior Managing Director of REIT investment banking at Capital One.
Michael Sleece, Senior Managing Director, REIT Investment Banking, Capital One
“Truist is pleased to support the capital expansion of Westwood Financial,” said Francine Glandt, Managing Director, Real Estate Corporate Banking at Truist. “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,” said Juyuan Wei, Chief Financial Officer at Westwood Financial. “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
