July 21, 2016 Comments Off on TIAA Takes Stake in DJM’s Pacific City Retail Center Views: 318 California, California News, Orange County, West

TIAA Takes Stake in DJM’s Pacific City Retail Center

New York-based TIAA Global Asset Management acquired a 70% stake in San Jose-based DJM Capital Partners’ Pacific City shopping center in Huntington Beach, CA for an undisclosed amount. TIAA bought a 30% interest from an unnamed private investor.

The 190,900-square-foot outdoor retail center was developed in 2015 and was valued at an estimated $135 million. Previously, Pacific City had secured $93 million in development financing for the project that is still being leased up.

The 11-acre retail center is part of a larger 31-acre Pacific City development. The project also includes R.D. Olson’s recently-opened Paséa Hotel & Spa and an apartment complex that’s under construction.

Read More at Orange County Business Journal

Connect with Pacific City

Connect with DJM leasing team

For comments, questions or concerns, please contact Dennis Kaiser

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , ,

Comments are closed.