NEWPORT BEACH, CA—GlobeSt.com has learned exclusively that LosAngeles-based George Smith Partners has arranged a$51.4-million bridge loan for Lido Retail Group,an affiliate of DJM Capital Partners, for thecomplete renovation of the Lido MarinaVillage, a 123,391-square-foot, multi-block,mixed-use property on Lido Islehere. The property will be rebranded as an upscaleboutique and restaurantdestination unlike any currently offered in Orange County,according to GSP.

As GlobeSt.com reported in January, DJM, aprivate-equity investment,development and asset-managementfirm focusing on the retail sector, was set tobegin work to restore Lido Marina Villagebeginning in February. The firm is developing the landmark so thatit once again becomes an appealing shopping,dining and marina destination forlocals and visitors, spending an estimated $16 million, GlobeSt.comhas learned.

The property consists of retail, restaurant andoffice space in 14 separate structures includingprime waterfront boutique and dining space featuring harbor views,along with 47 boat docks and common areas for strolling, shoppingand outdoor entertainment. The village stretches from thewaterfront, across a public street and walkway and includesstreet-front retail and a small, multi-tenant office building.DJM's renovation will attempt to create an integrated village feelacross the entire project.