Thursday, June 22, 2017

HFF arranges $125 million refinancing for a high-quality retail center in El Segundo, CA

Plaza El Segundo, South Bay area, El Segundo, CA

Kevin MacKenzie

LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $125 million refinancing for Plaza El Segundo, a 380,558-square-foot, high-quality retail center in the South Bay community of El Segundo, California.

HFF worked on behalf of the borrower, Federal Realty, to secure the 10-year, fixed-rate loan through PGIM Real Estate Finance. 

Completed in 2007, Plaza El Segundo is 97 percent leased and comprises 13 buildings in three shopping districts: The Plaza, The Collection, and The Edge.  The property features a strong tenant line-up that includes Whole Foods, Dick’s Sporting Goods, lululemon athletica, Anthropologie and Salt Creek Grill. 

Situated on 36.82 acres at 710-780 Sepulveda Boulevard, Plaza El Segundo is located at the dominant intersection of Rosecrans Avenue and Sepulveda Boulevard (Pacific Coast Highway), which connects the affluent beach communities of Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo, and has combined traffic counts in excess of 110,000 vehicles per day.  

More than 167,000 residents earning an average annual household income of $100,192 live within three miles of the center.

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

Matthew Stewart
“Despite some recent headwinds in the retail market, this transaction is a great example of the availability of capital for premiere retail properties with best-in-class sponsorship,” MacKenzie said. 

“There was strong interest in the opportunity given the A-plus location and tenant line-up, and it was a true team effort from all parties to get the most efficient capital in place for the asset plan.”

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

Kristen Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617-848-1572 | cell 617-543-4873 |

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