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Financing Arranged for Cruzan’s Make Redev
CBRE Capital Markets arranged a $41.2-million bridge loan on behalf of Solana Beach-based Cruzan for the financing of Make, a 176,900-square-foot high utility office campus in Carlsbad, CA. The CBRE Debt & Structured Finance team of Mark McGovern, Scott Peterson and Brian Cruz secured an aggressive three-year floating rate loan through PCCP, LLC.
McGovern says, “Make is a truly unique project in San Diego, which showcases Cruzan’s ability to create imaginative, original workspace for its tenants. The terms of the financing reflected the strong property and ownership.”
Located at 5600 Avenida Encinas, the property was redeveloped from industrial to high utility office space that houses strong corporate tenants. The property is 400 yards from the ocean, and the building features an outdoor amphitheater, a café, fitness facility, resort-style locker room facilities, outdoor work spaces, common area WiFi, a fire feature, bike sharing program and horseshoes.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development


