ENCINITAS, CA-HFF has arranged a $43-million refinancing on behalf of a joint venture between Zelman Development Co. and Carltas Co. for the Plaza at Encinitas Ranch, a 145,303-square-foot power retail center here. The refinancing was a 13-year, fixed-rate loan through a life-insurance company. HFF tells GlobeSt.com that no money from the refinancing is earmarked for upgrades or improvements to the property, but did not elaborate further..
The center is located at 1550-1590 Leucadia Blvd. near the intersection of Encinitas’ retail-dominated El Camino Real thoroughfare. Built in 2002, the property is 100% leased and is anchored by a brand-new Wal-Mart. Other tenants include REI, Starbucks, Pei Wei, Subway and AT&T.
The HFF team representing the borrower was led by senior managing director Paul Brindley.
As GlobeSt.com reported this week, HFFLP, in conjunction with Kinder Morgan's leasing representative Studley, is marketing the global headquarters of Kinder Morgan, the 1-million-square-foot Kinder Morgan Tower in Houston. HFFLP’s managing directors Jeff Hollinden, Robert Williamson and Grady Roberts are leading the sales team,, has come to market, along with Studley’s corporate managing director Aaron Howes. Also, as GlobeSt.com reported earlier this week, HFF arranged a $17.1-million first-lien financing for a 112,296-square-foot single-tenant distribution center at 1650 Sunflower Ave. in Costa Mesa, CA, on behalf of Daymark Realty Advisors. And last week, phase two of CubeSmart’s $560-million acquisition of a 1.6-million-square-foot portfolio from New York City-based Storage Deluxe closed, with an HFF team led by senior managing director Aaron Swerdlin representing Storage Deluxe in the sale of 16 unencumbered and six encumbered self-storage assets, located mainly in the five boroughs of Manhattan.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
