$29.6 million acquisition financing arranged by HFF for 22-property Del Taco portfolio in Southern California
NEWPORT BEACH, CA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that 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.”
About Capital Real Estate Ventures, Inc.
Capital Real Estate Ventures, Inc. (CREV) was founded upon five core values: relationship driven brokerage, transparency in the transaction, a highly specialized and experienced team, multiple levels of expertise and background and always being team players. It was the desire to have a more personalized client interaction that led to the creation of this niche boutique firm, which encourages the focus to remain on the client, rather than the transaction. The ultimate vision was to combine traditional brokerage with property management; making investing in retail properties easier for clients. The ability to handle all aspects of client investments is one of many reasons Capital Real Estate Ventures Inc. continues to be San Diego’s premier retail investment advisory firm.
Today, Capital Real Estate Ventures, Inc. specializes in the acquisition, disposition, and management of investment properties throughout the United States. CREV’s unique approach has helped its clients make informed investment decisions, preserve their wealth and streamline their income investments for a secured retirement. For more information, visit capital-rev.com.
About Orion Investment and Management Ltd. Corp.
Orion Investment and Management Ltd. Corp. (www.orionmiami.com) has, since its formation in 1978, purchased and managed over $2 billion of commercial properties throughout the U.S. The company currently owns and manages over 180 retail, restaurant and office properties in 15 states. Orion Investment and Management Ltd. Corp. (Orion) has, since its inception, worked closely with the principals of Berkowitz Pollack Brant (www.bpbcpa.com) (BPB), an advisory and accounting firm with over 160 accountants servicing domestic and international clients. Orion and BPB have a formal working relationship, which expands the resources immediately available to each firm's client base, as Orion's office is located within the Miami headquarters of Berkowitz Pollack and Brant. Due to the numerous acquisitions they have closed in Orlando and Tampa in the last few years, the firm has recently opened an Orion office in Orlando with brokers and asset managers brought on from GE Capital.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.