Thursday, March 3, 2016

HFF secures $83.2 million financing for super regional mall near Los Angeles

South Bay Pavilion, Carson, CA

NEWPORT BEACH, CA  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $83.2 million in first lien financing for South Bay Pavilion, a 1.2 million-square-foot super regional mall in the Los Angeles-area community of Carson, California.

HFF worked on behalf of the borrower, Vintage Real Estate, to secure the three-year, floating-rate loan through PCCP.  The loan is being used to continue the borrower’s redevelopment, repositioning and expansion plan for the mall.

James Fowler
The 95-percent-leased South Bay Pavilion is home to more than 60 tenants, including a new state-of-the-art, 14-screen Cinemark Theatre; Ikea; Old Navy; Olive Garden; Buffalo Wild Wings; Big 5 Sporting Goods; Panera Bread; 24 Hour Fitness; Chili's Grill & Bar and The Children’s Place along with shadow tenants Sears, JCPenney and Target. 

The current expansion plan includes adding several new fashion and restaurant tenants.  Located at 20700 Avalon Boulevard midway between Los Angeles and Orange County, South Bay Pavilion is at the intersection of four major freeways, Interstates 405, 110 and 710 and State Road 91, with direct visibility from more than 300,000 vehicles per day.

 The location serves more than 2.5 million people and receives foot traffic from nearby StubHub Center and the California State University Dominguez Hills campus. 

The HFF debt placement team representing the borrower was led by managing director James Fowler.

”Vintage Real Estate has done an excellent job renovating South Bay Pavilion over the past few years, bringing a number of new tenants to the center, including Cinemark Theatre and several new restaurants and other specialty retailers,” Fowler said.  “Vintage Real Estate continues to further renovate and expand the mall.  It is quite an exciting project.”

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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