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| 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.
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| 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.
Learn more at www.hannayrealtyadvisors.com.
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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