Search
 

Escondido Village Owner Secures $16.7M Loan

ESCONDIDO, CA-La Caze Development Co. is using the capital to refinance its 255,000-sf, grocery-anchored shopping center, in a move that will allow the Escondido Village owner to add value to the property.

By Erin Cassin | Updated on May 22, 2003

ESCONDIDO, CA-La Caze Development Co. has secured a much-needed, $16.7-million refinancing for its 255,000-sf, grocery-anchored asset known as Escondido Village.

Torrance-based La Caze will use the capital to wrap up a value-added play at its Escondido shopping center, according to Nicholas Colonna, founding partner of Pacific Coast Capital Partners LLC. Through its affiliate Redwood Capital Finance Co., PCCP provided the financing to the La Caze entity, Escondido Ventures 99 LLC.

Escondido Village wasn’t completely at the point of exit strategy when La Caze sought the financing, but the owner needed the capital to finish the value-added scenario, Colonna tells GlobeSt.com. “We were able to understand the risks and the rewards involved, and they were able to garner the value,” he adds.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.