April 22, 2016 Comments Off on CBRE Secures $43M Loan for Carlsbad Retail Center Views: 793 California, California News, San Diego, West

CBRE Secures $43M Loan for Carlsbad Retail Center

CBRE Capital Markets’ debt and structured finance team arranged a $43-million loan to refinance Bressi Ranch Village Center in Carlsbad, CA. Cornerstone Real Estate Advisors, LLC owns the 116,403-square-foot property that is 97% leased.

Completed in 2010, Bressi Ranch Village Center is a Class A, grocery-anchored retail center. The distinctive pedestrian-friendly environment features 30 shops, services, restaurants and eateries, and is anchored by Stater Bros. and Trader Joe’s.

CBRE’s Michael Riccio and Mark McGovern secured the aggressively priced, long-term, fixed rate loan on behalf of the owner. Riccio says a new lending source was brought in, and the loan will allow the owner the ability to “execute its business plan” and “optimize returns.”

Connect with CBRE’s Riccio

Connect with CBRE’s McGovern

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