$210M Construction Financing for Anaheim Mixed-Use

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$210M Construction Financing for Anaheim Mixed-Use
« on: March 17, 2007, 17:29:29 »
Anaheim Garden Walk, a mixed-use complex planned near the city's Disneyland theme park, has received $210 million in construction financing. The development (pictured) will include 440,000 square feet of retail, restaurant and entertainment space a transportation center, a 3,200-space parking facility, 387 timeshare units and three hotels.
George Smith Partners arranged the loan to the project's developer, Anaheim GW II L.L.C., which is a partnership between Excel Realty Holdings L.L.C. and Pacific Coast Capital Partners L.L.C.

George Smith Partners' Scott Bottles, who arranged the financing, said in a statement that the project was in a good position to serve as the centerpiece of Anaheim's transition into an urban center. The development will take advantage of its positioning between Disneyland, Disney's California Adventure theme park and a soon to be built third park.

Currently, Garden Walk is 60 percent pre-leased, with tenants including retailers Harley Davidson, Banana Republic, Kay Jewelers, Cheesecake Factory and PF Chang's.

Excel principal William Stone said that he expected the project to become the area's premier destination for shopping, dining and entertainment, as well as a gateway to Anaheim's other attractions.

In addition to Bottles, George Smith Partners principal/managing director Gary Mozer and assistant vice president David Bierman assisted in extending the financing.