Boardwalk Investments Secures $110M for OC Retail Portfolio

Boardwalk Investments Group has secured $110 million in acquisition financing to buy a 12-property retail portfolio in Orange County. The portfolio includes class-A anchored and high street retail property in Newport Beach, Laguna Beach, Yountville and Corona Del Mar, California.

The three-year, floating-rate loan was placed with H.I.G. Realty Partners and has two one-year extension options. Key assets within the portfolio include a CVS-anchored shopping center located at 30814-30936 Pacific Coast Highway in Laguna Beach; a Pavilions-anchored shopping center located at 3100-3152 Newport Blvd. on the Balboa Peninsula in Newport Beach; a high-street retail shopping center located at 2902 West Coast Highway in Newport Beach; a fine dining retail asset located at 6725 Washington Street in Yountville (Napa); and multiple coastal assets in Newport Beach.

The JLL Capital Markets team representing the borrower included senior director John Chun, director John Marshall and analysts Sam Godfrey and Jake Fideler. Michael Mestel, managing director, ran the transaction on behalf of H.I.G.’s real estate credit fund.