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8/03/12
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SunCoast Properties locked up $7 mil in refi money for Interlaken Shopping Center, a 113.2k sf grocery-anchored retail center in Big Bear Lake, CA. the new, 10-year fixed-rate loan was arranged by HFF and funded by a correspondent life company.
Interlaken Shopping Center is located at 42142-42170 Big Bear Blvd, on the southeast side of Big Bear Lake in the San Bernadino National Forest. Situated on 12.5 acres, the center is 92 percent leased and was most recently renovated in 2010. The center is anchored by Vons Grocery with additional tenants including DIY Home Center and Dollar Tree.
HFF’s Aldon Cole and Husayn Hasan arranged the loan, which has a two-year built-in extension at the borrower’s option to increase the term to 12 years, creating refinance flexibility. HFF will also service the loan.
SunCoast Properties Inc is a full-service asset and property management firm offering a team specializing in property management, asset management, acquisitions, accounting, marketing, building systems and maintenance. The company’s portfolio includes commercial office buildings, retail shopping centers and light industrial/business centers. SunCoast has offices in Irvine and San Diego.
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