February 7, 2017 Comments Off on $92M Refi Placed on Power Retail Center Views: 187 California News, San Diego

$92M Refi Placed on Power Retail Center

HFF secured $92 million in refinancing for Grand Plaza, a 356,796-square-foot retail power center in San Marcos, CA.

HFF worked on behalf of local Newport Beach, CA-based development companies United American Properties, Inc. and World Premier Investments, Inc. to place the 25-year, fixed-rate loan with J.P. Morgan Asset Management (JPMAM).

Anchored by Sprouts Farmers Market, the 94%-leased property is also home to best-in-class national and regional tenants, as well as the only Nordstrom Rack in North County San Diego.

HFF’s John Chun, Sebastian Trujillo and AJ Manas represented the seller.

Chun said, “Given the impressive tenant roster and historically-high occupancy levels of the retail power center, we were able to secure competitive terms on the longer term duration loan.”

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