Availing Senior Loans to Refinance Real Estate Projects


Image: pccpllc.com

Since its inception in 1998, PCCP, LLC, has earned a reputation for providing real estate investors with exceptional financing solutions to meet their capital requirements. From its headquarters in Los Angeles, California, PCCP, LLC, provides senior loans to clients undertaking real estate investment projects across the United States.

In October 2017, PCCP announced a $41.2 million senior loan to Cruzan for the refinance of Make, an office campus in San Diego, California. The campus, which sits on 176,900 square feet, was acquired by Cruzan in 2013. At the time, the building was an abandoned warehouse. Cruzan successfully transformed the asset through a series of renovations, increasing its occupancy from full vacancy to 70 percent occupancy. This newest loan, the fourth to Cruzan from PCCP, will help complete remaining capital improvements.

Another project to receive finance support from PCCP was the joint venture between Magellan Development Company and Hanwha Engineering & Construction to refinance Village Market in April 2017. Village Market is a 102,224 square foot grocery-anchored retail center in the Lakeshore East community of downtown Chicago, Illinois. The capital injection helped enable management to better serve the surrounding Lakeshore East community.