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2/15/24
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Continental Realty Corporation acquired The South Coast Collection (“SOCO,”) a 292k sf, urban-infill shopping center in Costa Mesa. The purchase was financed with an acquisition loan of $66 mil.
Situated in the center of Orange County with over 700 feet of frontage along I-405, SOCO is located in a strong and high performing retail market. The collection is nearly 100% leased and is anchored by a strong mix of high-end furniture and designer home goods vendors, several of which maintain their only presence in California there. SOCO is also home to The OC Mix, an assortment of local retailers offering artisan food, fashion, and lifestyle goods.
Daniel Rosenberg and Logan Petersmeyer with BWE arranged the five-year, fixed-rate, interest-only loan. It was funded by an institutional bank lender.
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