Premier shopping center refinances for $74.48M in Virginia

WASHINGTON D.C., March 26, 2026 –  JLL Capital Markets announced today that it has secured a $74.478 million refinancing for Shops at Stonefield, a premier Trader Joe's-anchored and Costco shadow-anchored retail destination in Charlottesville, Virginia.

JLL worked on behalf of the borrower, O’Connor Capital Partners, in arranging a three-year loan through FS Credit REIT.

Shops at Stonefield is strategically positioned at 2100 Hydraulic Rd. at the intersection of Route 29/Seminole Trail Road and Hydraulic Road, two of Charlottesville's most traveled routes with 61,000 and 19,000 vehicles per day, respectively. The property sits just two miles north of the University of Virginia and benefits from excellent visibility in one of Virginia's most desirable markets.

The 267,294-square-foot retail center is 92% occupied and 98% leased with a diverse tenant mix of high-end shopping, dining and entertainment retailers including Trader Joe's, L.L. Bean, Lululemon, Sephora and a 14-screen Regal Cinema with the only IMAX theater in Charlottesville.

Shops at Stonefield is part of a 43.5-acre master-planned community that includes a 137-room hotel, a 455,000-square-foot facility occupied by Northrop Grumman and three residential properties totaling 686 combined units, including a recently delivered 227-unit luxury multifamily community.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Brian Gaswirth, Senior Director Evan Parker and Associates Gus Caiola and Jude Carlon.

"This refinancing demonstrates the strength of Shops at Stonefield as a premier retail destination in the Charlottesville market," said Gaswirth. "The property's exceptional location, strong tenant mix and embedded demand from the surrounding master-planned community made it an attractive opportunity for lenders."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.