George Smith Partners closed a $185 million financing on behalf of DJM Capital Partners Inc. to refinance a four-center retail portfolio in Southern California. The deal included a $70.6 million loan for La Habra Marketplace; a $40.2 million loan for Village Del Amo; a $42.2 million loan for Montalvo Square and a $32 million loan for Lakewood Square. The loans were non-recourse permanent loans and featured a sub-3.9 percent rate.

The proceeds from the transaction will be used to pay off existing senior and mezzanine loans due in the next 12 to 18 months, in addition to defeasance costs.

Over the past 10 years, the properties have averaged an occupancy rate of 97.2 percent.