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April 13, 2021
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RETAIL NEWS
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Pacific Equity Properties Secures $130 Mil in Construction Money for Malibu Mixed-Use Project

3/08/21

Pacific Equity Properties Inc has secured $130 mil in construction financing from Related Fund Management for Cross Creek Ranch Malibu, an architecturally significant 112k sf mixed-use development in Malibu.

The loan was sourced by Integrated Capital Management LLC (ICM), an investment and advisory firm headquartered in Los Angeles. ICM has also made a sizable equity investment in the project. The transaction marks one of the largest construction loans closed in Los Angeles County this year.

Cross Creek Ranch is the largest development to be approved since the City incorporated in 1991, and entitlements took several years to complete. Nestled among Malibu Country Mart, Malibu Village, Malibu Lumberyard and immediately adjacent to the expansion campus of Santa Monica College and The Park at Cross Creek, the project is ideally located in the heart of the Civic Center submarket and features a recently constructed Whole Foods.

Cross Creek Ranch will offer 70k sf of retail and restaurant use, including 10k sf of interior dining, and 42k sf of Class A office space. Designed by the renowned architectural firm Marmol Radziner, more than 80% of Cross Creek Ranch’s 12.9-acre grounds will be dedicated to landscape architecture, water treatments and gathering places to enhance the consumer experience. Unlike its peers, the project will also be abundantly parked, and patrons can enjoy subterranean parking out of the sun, as well as convenient perimeter surface parking.

Discussing the project, Bryan Gordon, CEO of Pacific Equity Properties, noted “As opposed to focusing exclusively on the shopping experience of the center, we have put an emphasis on the communal aspect of Cross Creek Ranch. Our aim is to create an intimate, rural village atmosphere.”






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