Saturday, March 19, 2016

HFF secures $22.75 million refinancing for retail center on U.S./Mexico border in San Diego, CA

The Plaza at the Border, San Ysidro, CA

Aldon Cole
SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $22.75 million refinancing for The Plaza at the Border, a 98,120-square-foot retail center along the U.S./Mexico border in San Ysidro, California.

HFF marketed the property on behalf of the borrower, The Shamrock Group, LLC, to place the three-year, floating-rate loan with NorthStar Real Estate Income II, Inc.  In 2013, HFF secured bridge financing on this property for the seller to replace a construction loan and pay for tenant improvements.

Completed in 2012, The Plaza at the Border is home to national and regional tenants, including T.J. Maxx, Ross Dress for Less, Vitamin Shoppe, Fashion Q, Rue 21 and Ulta Beauty.  The property is located at 3951-3975 Camino De La Plaza adjacent to The Outlets at the Border, which also is owned by the borrower, and The Las Americas Premium Outlets south of San Diego along the U.S./Mexico border in San Ysidro.  

The HFF team representing the borrower was led by senior managing directors Aldon Cole and Tim Wright.

According to HFF, even with a changing market experiencing macroeconomic challenges, we leveraged an excellent business plan, superb location and strong demand for quality retail in the bridge-lending space and were able to solicit a wide variety of capital providers, which created a competitive process for our client.

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

Kristen M. Murphy
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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