SAN DIEGO, CA – HFF announced today that it has arranged a $16 million refinancing on behalf of CT Retail Properties Finance III, LLC, an affiliate of Kimco Realty Corporation (Kimco), for Fire Mountain Center (top left photo), a 92,000-square-foot, Class A neighborhood shopping center in Oceanside, California.
HFF worked exclusively for the borrower to refinance existing debt on the retail center and to secure a five-year fixed-rate, on-book loan at a substantially lower interest rate through PNC Bank, N.A.
Fire Mountain Center is located at 2434-2598 Vista Way north of Highway 78 in the northern San Diego County community of Oceanside.
The property is 98 percent leased to tenants including Trader Joe’s, Beverages & More, Aaron Brothers, AT&T Wireless, FedEx Kinkos, Jack in the Box and Weight Watchers. Kimco operates the center, which is owned by the CT Retail Properties Finance III, LLC joint venture partnership.
The HFF team representing Kimco was led by associate director Zach Koucos (middle right photo) and managing director Robert Delitsky (middle left photo).
For further information on Kimco, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
Contacts:
ZACHARY KOUCOS
HFF Associate Director
(858) 812-2351
KRISTEN M. MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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