ENCINITAS, CA-HFF has arranged a $43-millionrefinancing on behalf of a joint venture betweenZelman Development Co. and CarltasCo. for the Plaza at Encinitas Ranch, a145,303-square-foot power retail center here. Therefinancing was a 13-year, fixed-rate loan through a life-insurancecompany. HFF tells GlobeSt.com that no money from the refinancingis earmarked for upgrades or improvements to the property, but didnot elaborate further..
The center is located at 1550-1590 LeucadiaBlvd. near the intersection of Encinitas’ retail-dominatedEl Camino Real thoroughfare. Built in 2002, the property is 100%leased and is anchored by a brand-new Wal-Mart.Other tenants include REI, Starbucks, Pei Wei,Subway and AT&T.
The HFF team representing the borrower was led by seniormanaging director Paul Brindley.
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