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JV Lands $83.5 Million Loan for Expansion of Emeryville Public Market

City Center Realty Partners, Angelo, Gordon & Co. to Expand 141,420-SF Shopping Center by 26,350 SF
February 6, 2018
A partnership between City Center Realty Partners, LLC and Angelo, Gordon & Co. secured an $83.5 million loan for the expansion of the Emeryville Public Market in Emeryville, CA.

The venture will use the loan to expand the 141,420-square-foot retail center by 26,350 square feet, bringing the total square footage to 167,770 square feet. Proceeds from the loan will also be used to retire an existing Bank of America loan, construct a 300-stall parking structure and expand an on-site public park.

Anchored by Guitar Center, Urban Outfitters and a food hall, the historic Emeryville Public Market is located on a 14-acre site next to the MacArthur Interchange at 5903-6005 Shellmound St. The market was originally developed in 1920, and underwent renovations and expansions in 1988 and 2017.

Peter Smyslowski of HFF's debt placement team arranged the five-year, floating-rate loan financing through ACORE Capital.
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