HFF Secures $83M Financing for Los Angeles Shopping Mall
Working on behalf of Vintage Real Estate, HFF managed to secure an $83.2 million loan for South Bay Pavilion Mall near Los Angeles.
By Ioana Neamt, Associate Editor
South Bay Pavilion Mall, Carson, Calif.
Los Angeles—HFF arranged an $83.2 million financing loan for a 1.2 million-square-foot retail center in Carson, Calif.
An HFF debt placement team led by Managing Director James Fowler placed the three-year, floating-rate loan with PCCP, on behalf of borrower Vintage Real Estate. The loan will be used to continue the borrower’s redevelopment, repositioning and expansion efforts currently underway at the site.
Located at 20700 Avalon Blvd., midway between Los Angeles and Orange County, the super-regional South Bay Pavilion mall is currently 95 percent leased. The center’s tenant roster includes more than 60 retailers, including Sears, JCPenney, Target, Ikea, Old Navy, Panera Bread, Olive Garden, and a new 14-screen Cinemark Theatre. South Bay Pavilion is conveniently situated at the intersection of four major freeways: I-405, I-110, I-710 and State Road 91. Nearby attractions include the StubHub Center and the California State University Dominguez Hills campus.
“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,” said Fowler in a statement. “It is quite an exciting project.”
Image courtesy of the South Bay Pavilion Mall Facebook page
You must be logged in to post a comment.