California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Walker & Dunlop Arranges $66M Refi of Carmel Valley Retail
Walker & Dunlop has arranged a $66-million loan to refinance Piazza Carmel, a grocery-anchored retail center in San Diego. The W&D Irvine Capital Markets team led by Gregory Richardson and Sean Skelton arranged the fixed-rate, interest-only loan on behalf of Baldwin & Sons. PGIM Real Estate provided the capital to retire the existing CMBS loan.
Located in the upscale Carmel Valley neighborhood at 3804-3890 & 3775-3881 Valley Centre Dr., Piazza Carmel was developed by Baldwin & Sons in the early 1990s. The company has owned and managed the property ever since. The center features destinations for shopping, dining and community connection, according to Walker & Dunlop.
“Piazza Carmel Shopping Center is a dynamic destination for shopping, dining, and community connection in the heart of San Diego,” said Richardson. “We’re grateful for the opportunity to collaborate once again with the experienced team at Baldwin & Sons, and proud to have arranged another successful refinancing for a property that reflects the energy and lifestyle of San Diego.”
- ◦Financing





