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| PacifiCenter, Anaheim, CA |
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| Ray Lawler |
NEWPORT BEACH, CA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $19 million in
financing for PacifiCenter, a two-building, mixed-use property totaling 130,207
square feet in Anaheim, California.
HFF worked on behalf of
the borrower, Hines and funds managed by Oaktree Capital Management, L.P.
(“Oaktree”), to secure the three-year, floating-rate loan through CIT Bank,
N.A. Loan proceeds will be used to
reposition the property.
PacifiCenter is located at
the southwest corner of La Palma and Tustin Avenues, just north of the
Riverside (91) Freeway in Anaheim. This
location provides visibility from 115,000 vehicles per day at the intersection
of Tustin and La Palma as well as 400,000 vehicles per day along the 91
Freeway.
The property is currently
improved with a fully-leased, four-story, Class A office building; two
58-percent-leased, single-story retail buildings; and one fully-leased,
single-story flex building. The
financing put in place by HFF encumbered the Class A office building and flex
building.
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| Kevin MacKenzie |
The site total 15.5 acres
and features an on-site Metrolink station, providing direct access to major
employment and entertainment options throughout Los Angeles, Orange County and
the Inland Empire.
“The on-site Metrolink
station provides an opportunity for walkable, transit-oriented, mixed-use
development in the Orange County area,” says Hines managing director Ray Lawler, who leads the firm’s Orange
County development and investment office.
“We see the transit-centered nature of the site as one of the most compelling features of the project and are eager to improve the campus through our strategic capital plan.”
“We see the transit-centered nature of the site as one of the most compelling features of the project and are eager to improve the campus through our strategic capital plan.”
The HFF debt placement
team representing the borrower was led by senior managing director Kevin MacKenzie and associate Jamie Kline.
For a complete copy of the company’s release, please
contact:
Kristen M. Murphy
Director, Public Relations
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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