Cross Creek Ranch Malibu’s $130M Financing is LA’s Largest YTD
Santa Monica-based real estate development company, Pacific Equity Properties Inc., has secured $130 million in construction financing from Related Fund Management for Cross Creek Ranch Malibu. Cross Creek Ranch is a 112,000-square-foot mixed-use development in Malibu.
The loan was sourced by Integrated Capital Management LLC (ICM), an investment and advisory firm that has also made a sizable equity investment in the project. The transaction marks one of the largest construction loans closed in Los Angeles County this year.
Cross Creek Ranch is the largest development to be approved since the city incorporated in 1991, and entitlements took several years to complete. Cross Creek Ranch is nestled among Malibu Country Mart, Malibu Village and Malibu Lumberyard, and immediately adjacent to the expansion campus of Santa Monica College and The Park at Cross Creek featuring a recently constructed Whole Foods.
Cross Creek Ranch will offer 70,000 square feet of retail and restaurant use including 10,000 square feet of interior dining and 42,000 square feet of class-A office space. It was designed by architectural firm Marmol Radziner.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.