Craig Realty Secures $140M Refinancing For Outlets At San Clemente With Pacific Life Insurance And MetLife
101 Avenida Vista Hermosa
Retail
Financed 126 days ago
Summary
Craig Realty has secured $140 million in refinancing for the Outlets at San Clemente in Orange County. The 500,000-square-foot retail property, located at 101 Avenida Vista Hermosa, will undergo redevelopment with the funds. The loan consists of a $105 million fixed-rate senior loan from Pacific Life Insurance Company and a $35 million mezzanine loan from MetLife. This refinancing replaces a previous loan from Wells Fargo.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $140,000,000
- Lender: Pacific Life Insurance Company & MetLife
- Landlord: Steve Craig - Craig Realty
- Loan Type: Refinance
- Loan Terms: fixed-rate
Steve Craig from Craig Realty represented the landlord in this refinancing deal, while the lenders, Pacific Life Insurance Company and MetLife, provided the financing.
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101 Avenida Vista Hermosa
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