Mixed-use
$31M Financing Closes for 578,000SF Mixed-Use Property
July 25, 2008

Village Hillcrest, a 578,000-square-foot mixed-use complex in San Diego's Hillcrest neighborhood, has been refinanced to the tune of $31 million. Acting on behalf of property owner SunCoast Properties Inc., Holliday Fenoglio Fowler L.P. orchestrated the financing deal, securing a 10-year, 5.97 percent fixed-rate loan from John Hancock Real Estate Finance. SunCoast plans to use the proceeds to prepay and retire an existing first lien financing, and to fund future growth opportunities. Developed in 1992, Village Hillcrest sits two miles from San Diego's central business district at the intersection of 5th Ave. and Washington St. The multi-structure property consists of a medical office and hospital building, a retail/office structure, two retail/residential buildings, two buildings consisting solely of retail space, and a four-story parking facility. Hillcrest Cinemas, 24-Hour Fitness, Scripps and three restaurants are among the businesses on the tenant roster.

 
Recent Mixed-Use Headlines
lalive1 L.A. Live Conference Center Topped Out
Aug. 29, 2008
Schuff Steel Co. has topped out the new conference center that is part of the L.A. Live development in Los Angeles. The 27-acre development began with the construction of the Staples Center where the Lakers play, in 2002.
SoCal Lender Kicks Off Another $100M Mortgage Pool Fund
Aug. 28, 2008
Los Angeles-based Wilshire Finance Partners has introduced Wilshire Income Fund II, its second real estate mortgage pool fund. The fund will raise $100 million to make commercial property loans. This time around, however, the company will be able to welcome investors and borrowers from beyond the borders of the State of California.
Demolition Under Way, Groundbreaking Planned for Maryland Mixed-Use
Aug. 25, 2008
Washington Property Co. has begun the demolition for the construction of 1050 Ripley Street, a mixed-use project located in the Ripley District of downtown Silver Spring, Md.
$68M Mixed-Use Redevelopment Project in Dearborn Gets Boost from State
Aug. 22, 2008
Redico Holdings L.L.C., the Southfield, Mich.-based real estate company behind the redevelopment of a former Montgomery Ward department store in East Dearborn, Mich., has gotten a monetary helping hand from the Michigan Economic Development Corp.
220-Acre Mixed-Use in Works Near University of Missouri
Aug. 20, 2008
A 220-acre parcel near the University of Missouri's Discovery Ridge research park in Columbia is on tap to sprout a gargantuan mixed-use project.
 

 

Westfield Nabs Interest in U.K. Retail Owner
August 29, 2008
By: Tonie Auer, Southwest Correspondent --Less than a week after Simon Property Group acquired a 3.14 percent stake in U.K. retail property firm Liberty International, Australia-based Westfield Group has stepped up to take a 2.96 percent interest in Liberty. Liberty...

L.A. Live Conference Center Topped Out
August 29, 2008
By: Judy Feldman, Contributing Correspondent --Schuff Steel Co. has topped out the new conference center that is part of the L.A. Live development in Los Angeles. The 27-acre development (pictured) began with the construction of the Staples Center where the...

Catskills Hotel Project Gets $525M in Redevelopment Funding
August 29, 2008
By: Scott Baltic, Contributing Editor --Redevelopment of the site that was once home to the Borscht Belt's legendary Concord Hotel, in Kiamesha Lake, N.Y., has taken two major steps forward. In one, Concord Associates L.P., joint venture partner of Empire...

First Publicly Accessible Space in World's Tallest Tower Opens
August 29, 2008
By: Amanda Marsh, Associate Editor --The Olympics may be over in China, but the exciting events haven't stopped there. The highest publicly accessible built space (pictured), part of the tallest building in the world - the 101-floor, 1,614-foot Shanghai World...

Equity Residential Gets $550M Loan
August 28, 2008
By Barbra Murray, Contributing Editor -- Chicago-based Equity Residential Inc. has closed on $550 million in financing, putting up 15 of its multi-family properties as collateral. Originated by Wells Fargo for repurchase by Fannie Mae, the secured interest only loan...

It's All In The Message
August 29, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Top CEOs understand the power, influence, and leverage created by great messaging. Do you ever find yourself sitting back and marveling at those chief executives who always seem to have the right thing...

Do You Have A Bad Attitude?
August 22, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Show me a CEO with a bad attitude and I'll show you a poor leader. While this sounds simple enough at face value, I have consistently found that one of the most often...

Is Family Business a Good Idea?
August 15, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Oh what a conundrum! Family business: Should I, or shouldn't I? In my opinion there really isn't a right or wrong answer to this question. It is simply a matter of personal preference....

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...

Six Mistakes Real Leaders Avoid
August 01, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --I recently had a reader ask: "Is there a simple test that can be used to quickly determine an executive's leadership ability?" The short answer is yes. There are, in fact, a great...