Carson, Calif. — HFF has secured $83.2 million in first lien financing for South Bay Pavilion, a 1.2 million-square-foot super regional mall in the Los Angeles suburb of Carson.
James Fowler of HFF worked on behalf of the borrower, Vintage Real Estate, to secure the three-year, floating-rate loan through PCCP. The loan will be used to continue the borrower’s redevelopment, repositioning and expansion of the mall.
The 95 percent leased center is home to more than 60 tenants including Cinemark Theatre, Ikea, Old Navy, Olive Garden, Buffalo Wild Wings, Big 5 Sporting Goods, Panera Bread, 24 Hour Fitness, Chili’s Grill & Bar and The Children’s Place. The current expansion plan includes adding several new fashion and restaurant tenants.