Press Release

CBRE Arranges $8.3 Million Loan for Solana Beach Office Property

11 12月 2018

sdpost

Debt will be used for future tenant improvements, following extensive renovation of the building

San Diego – CBRE Capital Markets’ Debt & Structured Finance team has arranged an $8.3 million loan for the refinance of Pacific View Center in Solana Beach, CA.

Mark McGovern, Scott Peterson and Brian Cruz of CBRE’s San Diego office secured the loan through a life insurance company on behalf of San Diego-based Fenway Capital Advisors.

The owners are wrapping up a major renovation of the property, located at 674 Via De La Valle, including a new façade and windows, all new lobby area/corridors, enhanced landscaping, upgraded patio areas, bike racks, surfboard storage, showers and lockers, and a new shared conference room. The new loan will provide future funding for planned tenant improvements.

“Pacific View Center is a high-quality office project, which enjoys a very accessible location as well as spectacular views of the ocean and the Del Mar Racetrack,” said McGovern.

Pacific View Center is comprised of a three-story, multi-tenant office building totaling approximately 20,415 rentable square feet. Located in the Solana Beach/Del Mar area, the property is in the heart of one of the more affluent areas in San Diego County. It is less than a mile from the Pacific Ocean with quick access to Interstate 5 and the Solana Beach train station.

“When the renovations are completed, the office building will represent a new upscale standard for the community,” said Peterson. 
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.