 |
| Kevin Mackenzie |
NEWPORT BEACH, CA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $29.6 million in
acquisition financing for four portfolios containing 22 separate properties
with established Del Taco restaurants
in Southern California.
HFF worked on behalf of
the borrower, a joint venture between Capital Real Estate Ventures, Inc. and
Orion Investment and Management Ltd. Corp., to place the non-recourse,
two-year, floating-rate loan with the Wells Fargo Restaurant Finance Group.
The four portfolio properties
all have new long-term leases with Del Taco, a fast food restaurant chain
specializing in Mexican cuisine.
The properties are all located in Southern
California communities – Colton, Highland, Lake Elsinore, La Verne, Moreno
Valley, Palmdale, Placentia, Perris, Rancho Cucamonga, Rialto, Riverside,
Sacramento, Temecula, Thousand Palms, Torrance, Upland, Walnut, Victorville and
Vista.
The HFF debt placement
team representing the borrower consisted of senior managing director Kevin Mackenzie and director Greg Brown.
“We obtained a unique
financing structure with an excellent lender in order to allow our client to
execute their business plan with this portfolio,” Brown said.
“We were extremely pleased
with the professionalism, attention to detail and follow through with Greg
Brown and his team at HFF,” said Capital RE Ventures President Randy Rivera.
“This is the third loan we have closed with
HFF within the past six months, and each loan comes with its own unique set of
challenges that HFF was able to foresee and they were very proactive in solving
those challenges.”
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
No comments:
Post a Comment