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| Rendering of planned Pacific Pearl Shopping Center, Pleasanton, CA |
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| Nicholas Bicardo |
SAN FRANCISCO, CA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged equity and debt
capital in excess of $50 million for Pacific
Pearl Shopping Center, a to-be-built 112,000-square-foot, grocery-anchored
retail center in the San Francisco Bay Area community of Pleasanton,
California.
HFF worked on behalf of
the developer, BHV Centerstreet Properties, LLC, to arrange the joint venture
equity partnership with a fund advised by UBS Asset Management. In addition, HFF secured the construction
loan for the partnership through Wells Fargo Bank.
This is the third successful equity and debt
raise HFF has closed with BHV Centerstreet Properties in 2015, representing
more than $210 million in total capital raised.
Pacific Pearl Shopping
Center’s grocery anchor will be Marina Food, one of the Bay Area’s most
established Asian foods supermarkets.
The center will feature an international food court and dim/sum banquet
restaurant in addition to a mix of traditional and Asian-oriented tenants.
The 11.5-acre site is
situated at the intersection of Stonebridge Drive and El Charro Road,
immediately adjacent to Interstate 580 in Pleasanton, a community approximately
40 miles across the Bay and southeast of downtown San Francisco. The site is across the street from San
Francisco Premium Outlets and in the immediate vicinity of multiple retail and
residential developments currently planned or underway.
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| Brandon Roth |
The HFF debt and equity
placement team representing the developer was led by senior managing director
Bruce Ganong, managing director Nicholas
Bicardo and associate directors Brandon
Roth and Danny Reddin.
“The development activity
at this location on the Pleasanton/Livermore border is significant, and it will
be exciting to see the Pacific Pearl project come on line, as it will provide
much needed necessity-based retail services to the growing residential population
in the surrounding area and will serve the large and rapidly-growing high
income Asian population in the Tri-Valley,” Ganong said.
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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