Friday, December 25, 2015

HFF arranges more than $50 million total project financing for retail development in the San Francisco Bay Area

Rendering of planned Pacific Pearl Shopping Center, Pleasanton, CA

Nicholas Bicardo
SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged equity and debt capital in excess of $50 million for Pacific Pearl Shopping Center, a to-be-built 112,000-square-foot, grocery-anchored retail center in the San Francisco Bay Area community of Pleasanton, California.

HFF worked on behalf of the developer, BHV Centerstreet Properties, LLC, to arrange the joint venture equity partnership with a fund advised by UBS Asset Management.  In addition, HFF secured the construction loan for the partnership through Wells Fargo Bank.  

This is the third successful equity and debt raise HFF has closed with BHV Centerstreet Properties in 2015, representing more than $210 million in total capital raised.

Pacific Pearl Shopping Center’s grocery anchor will be Marina Food, one of the Bay Area’s most established Asian foods supermarkets.  The center will feature an international food court and dim/sum banquet restaurant in addition to a mix of traditional and Asian-oriented tenants. 

The 11.5-acre site is situated at the intersection of Stonebridge Drive and El Charro Road, immediately adjacent to Interstate 580 in Pleasanton, a community approximately 40 miles across the Bay and southeast of downtown San Francisco.  The site is across the street from San Francisco Premium Outlets and in the immediate vicinity of multiple retail and residential developments currently planned or underway. 

Brandon Roth
The HFF debt and equity placement team representing the developer was led by senior managing director Bruce Ganong, managing director Nicholas Bicardo and associate directors Brandon Roth and Danny Reddin.

“The development activity at this location on the Pleasanton/Livermore border is significant, and it will be exciting to see the Pacific Pearl project come on line, as it will provide much needed necessity-based retail services to the growing residential population in the surrounding area and will serve the large and rapidly-growing high income Asian population in the Tri-Valley,” Ganong said.

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 |

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