Friday, February 17, 2017

HFF arranges $19 million financing for mixed-use project in Anaheim, CA

PacifiCenter, Anaheim, CA

Ray Lawler
NEWPORT BEACH, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $19 million in financing for PacifiCenter, a two-building, mixed-use property totaling 130,207 square feet in Anaheim, California.

HFF worked on behalf of the borrower, Hines and funds managed by Oaktree Capital Management, L.P. (“Oaktree”), to secure the three-year, floating-rate loan through CIT Bank, N.A.  Loan proceeds will be used to reposition the property.

PacifiCenter is located at the southwest corner of La Palma and Tustin Avenues, just north of the Riverside (91) Freeway in Anaheim.  This location provides visibility from 115,000 vehicles per day at the intersection of Tustin and La Palma as well as 400,000 vehicles per day along the 91 Freeway. 

The property is currently improved with a fully-leased, four-story, Class A office building; two 58-percent-leased, single-story retail buildings; and one fully-leased, single-story flex building.  The financing put in place by HFF encumbered the Class A office building and flex building. 

Kevin MacKenzie
The site total 15.5 acres and features an on-site Metrolink station, providing direct access to major employment and entertainment options throughout Los Angeles, Orange County and the Inland Empire. 

“The on-site Metrolink station provides an opportunity for walkable, transit-oriented, mixed-use development in the Orange County area,” says Hines managing director Ray Lawler, who leads the firm’s Orange County development and investment office.

“We see the transit-centered nature of the site as one of the most compelling features of the project and are eager to improve the campus through our strategic capital plan.”

The HFF debt placement team representing the borrower was led by senior managing director Kevin MacKenzie and associate Jamie Kline.

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

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

No comments: