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| Schiefer & Sons Building, 815 J Street, Downtown San Diego, CA |
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| Kevin MacKenzie |
IRVINE, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced
it has arranged a $7.25 million refinancing for the majority of the Schiefer & Sons Building, a
15,221-square-foot mixed-use office and retail building in downtown San Diego,
California.
HFF worked on behalf of
the borrower, Capital Real Estate Ventures, Inc., to secure the 10-year,
fixed-rate loan through Bank of America.
Loan proceeds will be used to refinance existing debt.
Located at 815 J Street in downtown San Diego’s
East Village neighborhood, the Schiefer & Sons building is within the PETCO
Park Grounds – home of the San Diego Padres Major League Baseball team and
venue for multiple sporting and music events.
The historic building is
within walking distance to San Diego’s Gaslamp District with more than 225
restaurants, bars and shops.
Originally constructed around 1905, the
Schiefer & Sons building underwent extensive renovations in 2008 to convert
it into an eight-unit condominium project consisting of six office units on two
levels about a two-unit ground-level retail space.
The refinancing covers
seven of the eight condominium units.
Each office unit features a secured entrance with private patios and
views of the Padres ballpark and scoreboard, and the restaurant has a
ground-floor patio with ballpark views.
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| Greg Brown |
HFF’s debt placement team
included senior managing director Kevin
MacKenzie and associate director Greg
Brown.
“This is a truly unique
asset within the east village submarket that includes a condominium component,”
Brown said. “HFF was able to secure
financing with a lender that understood the nature of the property and close
during a tumultuous time for the capital markets.”
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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