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| The Village at Nellie Gail Ranch, Laguna Hills, CA |
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| James Fowler |
IRVINE, CA – Aug. 13, 2015
– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured a
$33 million refinancing for The Village
at Nellie Gail Ranch, an 87,561-square-foot, newly-renovated and expanded
shopping center anchored by Smart & Final Extra in Laguna Hills,
California.
HFF worked on behalf of
the borrower, Fred Sands of Vintage Real Estate, to secure the two-year,
floating-rate loan with three one-year extensions through Colony Capital.
Loan proceeds will be used to refinance existing
debt and fund capital expenditures related to tenant improvement costs and
leasing commissions to lease the limited remaining vacant space.
The Village at Nellie Gail
Ranch underwent massive redevelopment between 2013 and 2015, which included
adding square footage with the construction of the 20,478-square-foot building
for Smart & Final Extra, two additional buildings and a complete renovation
and upgrade of the remaining center.
Tenants of the five-building project include
Smart & Final Extra, Chuck E. Cheese’s, Nothing Bundt Cakes, Banfield Pet
Hospital, Rita’s Ice, Pharmaca, Laguna Hills Dental and Edible Arrangements.
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| Greg Brown |
The center is located at the intersection of
Moulton Parkway and La Paz Road in Laguna Hills, just off State Highway 73, in
an affluent suburban city in southern Orange County, which is seven miles from
the Pacific Ocean.
The HFF debt placement
team representing the borrower was led by managing director James Fowler and associate director Greg Brown.
“The comprehensive
renovation of Village at Nellie Gail Ranch has transformed it into a modern and
dynamic retail destination which has attracted a new host of specialty
retailers, including Smart & Final Extra, the smaller store format for
Smart & Final that focuses largely on fresh meat and a larger selection of
organic produce,” Fowler said.
“This is a welcome addition to the Laguna
Hills community and will enhance this pivotal intersection.”
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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