IRVINE, CA – HFF announced today that it has secured $29 million in financing for Bressi Ranch Village Center (top left photo), a 111,403-square-foot, dual grocery-anchored, trophy retail center in Carlsbad, California.Working on behalf of Cornerstone Real Estate Advisers LLC, which was representing an institutional separate account investor, HFF placed the fixed-rate loan with an insurance company affiliate of Hartford Investment Management Company.
Loan proceeds were used to acquire the property in a sale closed by HFF in June.
Located in the coastal Southern California city of Carlsbad, Bressi Ranch Village Center is part of the prestigious 525-acre master planned Bressi Ranch development. Constructed in 2009 after nearly seven years of planning, the center is 97 percent leased and is anchored by Stater Bros., Trader Joes, Unleashed by PETCO, Souplantation Express, Chase Bank and Rubios.
The HFF team representing Cornerstone was led by senior managing directors Dana Brome (middle right photo) and Tim Wright (middle left photo) and associate director Zack Holderman (bottom right photo).
Cornerstone Real Estate Advisers LLC, with affiliate and subsidiary offices in the US, UK, Europe and Asia, is one of the world's largest real estate investment advisers.
It provides core and value-added investment and advisory services, including a comprehensive suite of real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe.
Cornerstone is a member of the MassMutual Financial Group. Cornerstone has assets under management totaling more than $30 billion.
More information is at www.cornerstoneadvisers.com.
Contacts:
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
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