ENCINITAS, CA-HFF has arranged a $43-million refinancing on behalf of a joint venture between Zelman Development Co. and Carltas Co. for the Plaza at Encinitas Ranch, a 145,303-square-foot power retail center here. The refinancing was a 13-year, fixed-rate loan through a life-insurance company. HFF tells GlobeSt.com that no money from the refinancing is earmarked for upgrades or improvements to the property, but did not elaborate further..

The center is located at 1550-1590 Leucadia Blvd. near the intersection of Encinitas’ retail-dominated El 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.

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