Tuesday, August 28, 2012

HFF arranges $43 million refinancing for The Plaza at Encinitas Ranch in Southern California

 LOS ANGELES, CA – HFF announced today that it has arranged a $43 million refinancing for The Plaza at Encinitas Ranch (top left photo), a 145,303-square-foot power retail center in Encinitas, California.

HFF worked exclusively on behalf of the borrower, a joint venture between Zelman Development Company and Carltas Company, to secure the 13-year, fixed-rate loan through a life insurance company. 

The Plaza at Encinitas Ranch is located at 1550-1590 Leucadia Boulevard near the intersection of Encinitas’ retail-dominated El Camino Real thoroughfare.  Built in 2002, the property is 100 percent leased and is anchored by Wal-Mart.  Other tenants include REI, Starbucks, Pei Wei, Subway and AT&T.

The HFF team representing the borrower was led by senior managing director Paul Brindley (middle right photo).

Zelman Development Co. is a privately-owned commercial real estate development company headquartered in Los Angeles, California.  Founded in the early 1960’s, the company is now a diversified development/investment company with diverse holdings of retail, industrial, hotel, office  and other asset classes.  For more information, visit www.zelman.com.

 Carltas Company is a privately-owned real estate development and investment company committed to creating exceptional development projects for work and recreation. 

Founded in 1958, the company’s principal activities are focused in the Southern California counties of San Diego, Riverside and Orange. 

 The company is based in Carlsbad, California.

PAUL C. BRINDLEY                                       
HFF Senior Managing Director                     
(310) 407-2100                                                    
HFF Associate Director, Marketing
(713) 852-3500

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