 |
| South Bay Pavilion, Carson, CA |
NEWPORT BEACH, CA – Holliday Fenoglio Fowler, L.P. (HFF)
announced it has secured $83.2 million in first lien financing for South Bay Pavilion, a 1.2
million-square-foot super regional mall in the Los Angeles-area community of
Carson, California.
HFF worked on behalf of
the borrower, Vintage Real Estate, to secure the three-year, floating-rate loan
through PCCP. The loan is being used to
continue the borrower’s redevelopment, repositioning and expansion plan for the
mall.
 |
| James Fowler |
The 95-percent-leased
South Bay Pavilion is home to more than 60 tenants, including a new
state-of-the-art, 14-screen Cinemark Theatre; Ikea; Old Navy; Olive Garden;
Buffalo Wild Wings; Big 5 Sporting Goods; Panera Bread; 24 Hour Fitness;
Chili's Grill & Bar and The Children’s Place along with shadow tenants
Sears, JCPenney and Target.
The current expansion plan
includes adding several new fashion and restaurant tenants. Located at 20700 Avalon Boulevard midway
between Los Angeles and Orange County, South Bay Pavilion is at the
intersection of four major freeways, Interstates 405, 110 and 710 and State
Road 91, with direct visibility from more than 300,000 vehicles per day.
The location serves more than 2.5 million
people and receives foot traffic from nearby StubHub Center and the California
State University Dominguez Hills campus.
The HFF debt placement
team representing the borrower was led by managing director James Fowler.
”Vintage Real Estate has
done an excellent job renovating South Bay Pavilion over the past few years,
bringing a number of new tenants to the center, including Cinemark Theatre and
several new restaurants and other specialty retailers,” Fowler said. “Vintage Real Estate continues to further
renovate and expand the mall. It is
quite an exciting project.”
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
No comments:
Post a Comment