SAN DIEGO—CBRE Capital Markets' Debt & Structured Finance team has arranged a $65 million loan for the refinance of The Village at Pacific Highlands Ranch on behalf of Coast Income Properties.
Bill Chiles, Scott Peterson and Brian Cruz of the firm's San Diego office secured the aggressively priced 11-year, fixed-rate loan to take out the existing construction loan.
"Given the exceptional location and initial lease-up of the property, we were able to structure a permanent loan with a life company before the property was fully stabilized. This enabled the borrower to fix the interest rate and terms for what will be a long term hold for the partnership," said Peterson.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
