(Mark Your Calendars: RealShare REAL ESTATE 2012, March 22nd in Los Angeles).
HANFORD, CA-Passco Cos. LLC has negotiated on behalf of select tenant-in-common owners, the $25.5-million refinancing of Hanford Mall, a 483,214-square-foot regional mall located in here in Kings County, CA. Built in 1993, the retail mall was expanded in 1999.
The financial negotiations, which met several uniquely complex requirements, were brought to a successful agreement within a remarkably short time, explains Passco. “Passco successfully negotiated a loan from Cantor Commercial Real Estate on highly advantageous terms given the ownership structure, and finalized documents for the owners to ‘roll up’ from a TIC ownership structure to a Delaware LLC, in order to obtain the loan,” explains William H. Winn, Passco’s president.
Alan C. Clifton, Passco’s VP of strategic investments explains that “the 10-year, fixed-rate loan refinancing of the Hanford Mall was completed in 19 calendar days from commitment to funding.”
GlobeSt.com could not obtain further information such as the identity of the owners or reasons for the refi by deadline.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
