SAN DIEGO, CA – HFF announced today that it has arranged $25.6 million in two separate financings for Rancho Penasquitos Towne Center Phase I and II (top left photo), a neighborhood and community shopping center totaling 179,000 square feet in San Diego, California.
HFF worked exclusively on behalf of Rancho Penasquitos Towne Center I, LP and Rancho Penasquitos Towne Center II, LP to arrange the 10-year, fixed-rate securitized financings through Deutsche Bank Mortgage Capital – CMBS.
A $14.5 million loan was arranged for Phase I, and an $11.1 million loan was secured for Phase II.
Rancho Penasquitos Towne Center (RPTC) is situated north of Highway 56 at Black Mountain Road in San Diego owned by a joint venture consisting of affiliates of UBS (85%) and Kimco Realty Corporation (15%).
RPTC is anchored by a 40,000-square-foot Von’s grocery store and a 22,000-square-foot Rite Aid (both of which are not part of the collateral) and includes in-line retail space leased to JP Morgan Chase Bank, Starbucks, State Farm Insurance, Bank of America, Subway and GNC. As of June 30, 2011, the property was 91 percent occupied.
The HFF team representing Rancho Penasquitos Towne Center I, LP and Rancho Penasquitos Towne Center II, LP was led by associate director Zach Koucos (middle right photo) and managing director Robert Delitsky (bottom left photo).
Contacts:
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,
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