Disney-Area Development Totals 390,000-SF

ANAHEIM, CA-A joint venture of El Segundo-based Pacific Coast Capital Partners and three other investors plans a 390,000-sf retail development on a 19.3-acre site next to the Disney Resort and the Anaheim Convention Center. PCCP's partner in the deal is Anaheim Development LLC, which in turn is a partnership between San Diego-based Excel Realty Holdings LLC, Santa Barbara-based KBM Enterprises LLC and Richard J. Nordlund.The joint venture has committed approximately $30 million in equity financing to the project, which will be known as Anaheim GardenWalk, with PCCP making its investment through the Southern California Smart Growth Fund, an institutional equity fund focused on low- and moderate-income census tracts throughout Southern California. The development site is on the eastern half of the block bordered by Disney Way, Clementine Street, Katella Avenue and Harbor Boulevard. The developers say that the project will feature "a substantial entertainment and restaurant component," with construction of the first phase of retail, consisting of more than 260,000 sf, expected to begin in January and to be completed in June 2007. The joint venture's business plan also includes the development of up to approximately 1,100 rooms of hotels and timeshares, plus a six-level parking structure with more than 2,000 spaces. Development on the hotel portion of the site is expected to begin in January.Hal Pohl, VP of Pacific Coast Capital Partners, says that the retail portion of the development will be designed to appeal to tourists as well as the growing population in Anaheim. The project will be situated approximately one-half mile east of Interstate 5.Pacific Coast Capital Partners is a provider of opportunistic debt and equity capital for real estate in the western US that has invested more than $2 billion in California and other western states properties.Excel Realty Holdings LLC is a real estate and investment company whose management team has been involved in more than $10 billion of real estate transactions throughout the US and Canada over 27 years. KBM Enterprises LLC has more than 30 years of experience in both residential and commercial properties as well as new construction, and Nordlund is a Santa Barbara-based investor.