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California  + San Diego  + Finance  | 

Steerpoint Acquires Major Share of Carlsbad Retail Center

Archway Capital LLC provided a $42.9-million loan to Steerpoint Capital for the acquisition of a major portion of The Shoppes at Carlsbad. Jessica Carter, VP, loan originations with Archway, facilitated the loan on behalf of the borrower. Located at 2525 El Camino Real in Carlsbad, the 98-acre retail property totals 1.1 million square feet.

The portion that was acquired totals 727,000 square feet and is currently 74% occupied with a tenant mix including Yard House, The Cheesecake Factory, Hollister, American Eagle Outfitters, Dave & Busters, 24 Hour Fitness and Regal Cinemas. Anchor tenants that weren’t part of the sale include Macy’s and JCPenney.

The loan marks Archway Capital’s largest transaction to date, as well as one of the most complex the firm has executed. The borrower allocated and capitalized $4 million for improvements to the property including upgrading the entrances, enhancing common area seating, adding digital signage and bathroom renovations.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Financing
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