Press Release brought to you by HFF

HFF secures $22.75 million refinancing for retail center on U.S./Mexico border in San Diego

03/17/2016

SAN DIEGO, CA – March 17, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that 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.

About The Shamrock Group, LLC
The Shamrock Group, LLC, is a San Diego-based real estate development and investment firm founded by Michael K. Binkle and Randy A. Levinson.  The group primarily focuses on acquisition, development, and investment in commercial, office, industrial and retail real estate within the western United States.  For more information about The Shamrock Group, LLC, visit www.theshamrockgrp.com.

About HFF
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.

CONTACTS:
ALDON COLE

HFF Senior Managing Director
(858) 552-7690
acole@hfflp.com

TIMOTHY WRIGHT
HFF Senior Managing Director
(858) 552-7690
twright@hfflp.com

KRISTEN MURPHY
HFF Director, Marketing
(617) 338-0990
krmurphy@hfflp.com

Source

HFF

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