IRVINE, CA – HFF announced that it has secured a $43 million financing for Encinitas Village (top left photo), a 183,675-square-foot retail center in Encinitas, California.
HFF worked exclusively on behalf of Terramar Retail Centers to secure the 10-year, fixed-rate loan through an affiliate of Hartford Investment Management Company.
Encinitas Village is located at 105-133 North El Camino Real, north of the intersection of Encinitas Boulevard. The retail center serves a residential population of more than 147,000 within a five-mile radius, with a median household income of $133,000.
The center is 98 percent leased, and is anchored by Ralph’s Supermarket. Additional tenants include CVS Pharmacy, Trader Joe’s, Citibank, US Bank, Chase Bank and Souplantation.
The HFF team representing Terramar Retail Centers was led by senior managing director Don Curtis (middle right photo).
“This latest financing is one of four loans HFF has placed with Hartford (the lender) in the San Diego area in the past seven months,” said Curtis. “These loans represent $163 million of the more than $1 billion in life company business that HFF closed on the West Coast from the beginning of 2011 to the present.”
Terramar Retail Centers is a privately-held commercial investment, management and development company.
Terramar has acquired, managed and leased more than 6.5 million square feet in its 15-year history. The company currently owns and operates 22 neighborhood, community, specialty and power centers. Terramar’s operating and development portfolio includes more than 3.7 million square feet of retail area throughout the western United States.
For more information about the company, visit http://www.terramarcenters.com/.
Contacts:
DONALD J. CURTIS
Ca. Lic. #00883924
HFF Senior Managing Director
(949) 253-8800
KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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