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| Olivera Plaza, Victoria Avenue and Channel Islands Boulevard, Port Hueneme, CA |
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| Greg Brown |
NEWPORT BEACH, CA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $5.54 million in
joint venture equity for the acquisition of Oliveira Plaza, a 116,000-square-foot retail center in the Southern
California community of Port Hueneme.
HFF worked on behalf of
Progression REI to arrange joint venture equity with an institutional equity
investor.
Oliveira Plaza is situated
on 9.31 acres at the premier intersection of Victoria Avenue and Channel
Islands Boulevard. The center, which is
located in an affluent area of Ventura County, is directly adjacent to the Channel
Islands Marina and is surrounded by 133,276 residents within a three-mile
radius.
Partially renovated between 2012 and 2013,
Oliveira Plaza comprises six single-story buildings that are 92 percent
leased. Approximately 80 percent of the
property income is generated by national credit tenants, including Big Lots,
Bank of America, Rite Aid, Citibank, West Marine, Dollar Tree, Panda Express
and Carl’s Jr.
The HFF equity placement
team representing Progression REI was led by director Greg Brown and associate Jamie
Kline.
“Oliveira Plaza meets our
objectives because it is a great location within its market, it has a terrific
lineup of tenants and it produces attractive returns for our investors,” said Jim Howard, Progression REI’s managing
partner.
“HFF played an integral
role in successfully completing this transaction. We were extremely impressed by Greg and
Jamie’s execution, professionalism and perseverance throughout a long and
challenging acquisition process.”
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Marketing
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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