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| The Plaza at the Border, San Ysidro, CA |
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| Aldon Cole |
SAN DIEGO, CA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured a $22.75 million
refinancing for The Plaza at the Border,
a 98,120-square-foot retail center along the U.S./Mexico border in San Ysidro,
California.
HFF marketed the property
on behalf of the borrower, The Shamrock Group, LLC, to place the three-year,
floating-rate loan with NorthStar Real Estate Income II, Inc. In 2013, HFF secured bridge financing on this
property for the seller to replace a construction loan and pay for tenant
improvements.
Completed in 2012, The
Plaza at the Border is home to national and regional tenants, including T.J.
Maxx, Ross Dress for Less, Vitamin Shoppe, Fashion Q, Rue 21 and Ulta
Beauty. The property is located at
3951-3975 Camino De La Plaza adjacent to The Outlets at the Border, which also
is owned by the borrower, and The Las Americas Premium Outlets south of San
Diego along the U.S./Mexico border in San Ysidro.
The HFF team representing
the borrower was led by senior managing directors Aldon Cole and Tim Wright.
According to HFF, even
with a changing market experiencing macroeconomic challenges, we leveraged an
excellent business plan, superb location and strong demand for quality retail
in the bridge-lending space and were able to solicit a wide variety of capital
providers, which created a competitive process for our client.
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
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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