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$42M Refi for Downtown Napa MXU Development
Zapolski Real Estate, LLC and Trademark Property Company secured $42 million to refinance First Street Napa, a 142,026-square-foot, mixed-use retail and creative office property spanning three blocks in downtown Napa, CA. The asset is part of a newly-constructed 325,000-square-foot, Class A development that comprises 45 high-end retail shops, new state-of-the-art creative office space and a 183-room, boutique Archer Hotel, which was not a part of the financing.
HFF’s Peter Smyslowski and Bercut Smith worked on behalf of the borrower to arrange the floating-rate loan through ACORE Capital, LP. Loan proceeds will be used to pay off the development construction loan, and provide an unfunded facility to complete the lease up of the remaining tenant suites.
“Though lenders continue to underwrite retail opportunities very selectively, the interest to provide the takeout financing was tremendous and it is a testament to the development team’s vision,” Smyslowski said.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development




