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3/18/21
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DJM Capital has recapitalized Lido Marina Village, a 106k sf, multi-block waterfront boutique retail and office property on Balboa Peninsula in Newport Beach. The $45.6 mil in bridge financing was arranged by George Smith Partners.
Lido Marina Village features retail, restaurant, and office space in 14 separate structures including prime waterfront retail and restaurant spaces featuring spectacular harbor views, along with 47 boat slips, creating an iconic Newport Beach destination. Some highlighted restaurants include Orange County’s only Nobu and Malibu Farm locations. Retail tenants include first-to-market “laid back luxe” retailers such as Elysse Walker, LoveShackFancy, Serena & Lily, and Jenni Kayne. The property stretches from the waterfront, across a public street and walkway to the Via Lido street-front retail.
Since acquiring the project in 2013, DJM has performed extensive renovations that have created an “integrated village” feel across the entire property. They’ve rebranded Lido Marketplace as a super high-quality boutique and restaurant destination, featuring a “who’s who” of tenants. Even during the pandemic, DJM has kept the occupancy up and even signed new leases at “high street” rents. The property has been thriving in part due to their shoppers feeling comfortable in the open air, pedestrian friendly, waterfront environment.
George Smith Partners’ Steve Bram, David Pascale and Patrick O’Donnell arranged the new financing. The firm also arranged the renovation financing for this property back in 2014.
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