Saturday, September 13, 2014

HFF arranges $7.5 million financing for Palomar Place in Carlsbad, CA


Josh Simon
DENVER, CO  – HFF announced it has arranged $7.5 million in acquisition financing for Palomar Place, a 15,317-square-foot, Class A retail center in Carlsbad, California.

               HFF worked exclusively on behalf of the borrower, Hannay Realty Advisors, LP, a subsidy of MCD Realty Advisors, Inc., to secure the 3.54 percent, seven-year fixed-rate loan through a correspondent life insurance company.  HFF is also servicing the loan.

Palomar Place is situated on 1.75 acres at the southwest corner of Palomar Airport Road and Armada Drive in Carlsbad, a coastal community 35 miles north of San Diego.

 Completed in 2013, the two-building center is shadow anchored by Costco and is 100 percent leased to nine tenants, including Starbucks, Wells Fargo Bank, Supercuts, GNC and AT&T.

The HFF team representing the borrower was led by directors Josh Simon and Pat Burger and real estate analyst Leon McBroom.

Josh Simon
“Palomar Place is a very attractive retail center with great credit tenants, strong visibility and convenient access and will provide stable cash flow to the borrower,” Burger said.

Hannay Realty Advisors, a subsidy of MDC Realty Advisors USA, Inc., is a private commercial real estate company focused on the commercial markets in the western United States.

 HRA and its affiliates currently manage approximately 12 million square feet of commercial properties and has offices in Phoenix, Denver, Los Angeles, Orange County, San Francisco, Kansas City and Las Vegas. 


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

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

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