Wednesday, February 27, 2013

HFF secures $23.5 million bridge loan for retail center on U.S./Mexico border in San Diego, CA



The Plaza at the Border, Ysidro, CA
SAN DIEGO, CA – HFF announced today that it has secured $23.5 million in financing for The Plaza at the Border, a 98,000-square-foot retail center along the U.S./Mexico border in San Ysidro, California.

                Working exclusively on behalf of The Shamrock Group, LLC, HFF placed the non-recourse, five-year, floating-rate loan with the lender, Prime Finance.  

The loan is interest only with extension options and proceeds are replacing a construction loan and paying for tenant improvement and leasing costs, among other costs.

Aldon Cole
Completed in 2012, The Plaza at the Border is 79 percent leased to tenants including TJ Maxx, Ross Dress for Less, Vitamin Shoppe, Fashion Q and Ulta.  The property is located at 3951-3975 Camino De La Plaza adjacent to The Las Americas Premium Outlets and The Outlets at the Border, south of San Diego along the U.S./Mexico border in San Ysidro. 

                The HFF team representing the Shamrock Group, LLC was led by managing director Aldon Cole, senior managing director Tim Wright and senior real estate analyst Husayn Hasan.

Tim Wright
The Shamrock Group, LLC, is a San Diego-based real estate development and investment firm founded by Michael K. Binkle and Randy A. Levinson.  The group primarily focuses on acquisition, development, and investment in commercial, office, industrial and retail real estate within the western United States.  For more information about The Shamrock Group, LLC, visit www.theshamrockgrp.com

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

No comments: