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RETAIL NEWS
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Fred Sands Lands $33 Mil Refi for Renovated Laguna Hills Retail Center

8/17/15

Fred Sands and his Vintage Real Estate firm has obtained $33 mil in refi money for The Village at Nellie Gail Ranch, an 87.6k sf, newly-renovated and expanded shopping center anchored by Smart & Final Extra in Laguna Hills.

The Village at Nellie Gail Ranch underwent massive redevelopment between 2013 and 2015, which included adding square footage with the construction of the 20.5k sf building for Smart & Final Extra, two additional buildings and a complete renovation and upgrade of the remaining center. Tenants of the five-building project include Smart & Final Extra, Chuck E. Cheese’s, Nothing Bundt Cakes, Banfield Pet Hospital, Rita’s Ice, Pharmaca, Laguna Hills Dental and Edible Arrangements. The center is located at the intersection of Moulton Pkwy and La Paz Rd in Laguna Hills, just off Hwy 73, in an affluent suburban city in southern Orange County, which is seven miles from the Pacific Ocean.

James Fowler and Greg Brown of HFF arranged the two-year, floating-rate loan with three one-year extensions through Colony Capital. Loan proceeds will be used to refinance existing debt and fund capital expenditures related to tenant improvement costs and leasing commissions to lease the limited remaining vacant space.

“The comprehensive renovation of Village at Nellie Gail Ranch has transformed it into a modern and dynamic retail destination which has attracted a new host of specialty retailers, including Smart & Final Extra, the smaller store format for Smart & Final that focuses largely on fresh meat and a larger selection of organic produce,” Fowler said. “This is a welcome addition to the Laguna Hills community and will enhance this pivotal intersection.”






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