Home Real Estate DJM Recapitalizes Newport Beach Mixed-Use
Real Estate

DJM Recapitalizes Newport Beach Mixed-Use

JLL Capital Markets closed the recapitalization of Lido Marina Village, a 3.06-acre, coastal mixed-use shopping center located in Newport Beach. JLL represented the existing ownership, DJM Capital and Arc Capital Partners, through a partnership with Belay Investment Group, in the transaction with Redwood West joining the partnership.

As part of the transaction, Arc Capital Partners and Belay Investment Group exited the original partnership. JLL also secured financing through a relationship life company.

Built in 1971 and renovated in 2016 and 2022, Lido Marina Village features 77,922 square feet of retail space and 28,694 square feet of office space, drawing 1.5 million visitors annually. Since acquiring Lido Marina Village in 2013, DJM has performed extensive renovations that have transformed the property’s format and appearance.

The JLL Capital Markets Investment Sales Advisory team was led by Managing Directors Bryan Ley, Geoff Tranchina and Gleb Lvovich, Senior Director Tim Kuruzar and Director Daniel Tyner. The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Jeff Sause, Senior Director John Marshall and Director Alex Olson.

Source link

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Real Estate

Memphis Dermon Building Converting to 150-Room Hotel

The Dermon Building in Memphis was built 99 years ago, designed as...

Real Estate

Developer Duo Secures $120M Refi for Charleston Harbor Rental Community

Woodfield Investments and Argosy Real Estate Partners have secured $120 million to...

Real Estate

Bonita Springs Site for 252-Unit Apartment Community

Madison Communities and Heitman have closed a $44 million construction loan for...

Real Estate

$21.5M Loan for Tacoma Apartments Secured by Berkadia

Berkadia has secured financing for the acquisition of The Duo Apartments, a...