March 7, 2016
Newport Beach’s Holliday Fenoglio Fowler, L.P. (HFF) secured $83.2-million in first lien financing for South Bay Pavilion, a 1.2-million-square-foot super regional mall in Carson. The 95-percent-leased retail center is home to more than 60 tenants.
HFF’s James Fowler represented the borrower, Los Angeles-based Vintage Real Estate, to secure the three-year, floating-rate loan through PCCP. The loan is being used to continue the borrower’s redevelopment, repositioning and expansion plan for the mall.
”Vintage Real Estate has done an excellent job renovating South Bay Pavilion over the past few years, bringing a number of new tenants to the center, including Cinemark Theatre and several new restaurants and other specialty retailers,” Fowler said.