Leased to high-end fashion retailers Tom Ford and Bally, the property sits on a double-lot and features 100 feet of frontage along what is considered to be one of the top 10 retail streets in the world. In addition to retiring the existing debt on the property, ECA Capital, which also owns and operates high street retail assets in Chicago and Boston, will use a portion of the loan proceeds to reposition the asset.
“We are excited to provide ECA Capital with a structured and creative financing solution and the certainty of execution they needed to recapitalize the property” said Mesa West Principal Ronnie Gul, who originated the financing. “338-
The financing was arranged by Chuck Hoag and Trisha Connolly of Cushman & Wakefield’s Chicago office.
“This is the premier shopping destination in the country and one of the top luxury, high streets locations in the world,” Hoag said. “When you have irreplaceable real estate like this, there are several of options, but, it took a total team effort to find just the right solution for ECA Capital. We were happy to be a part of the process.”
About Mesa West Capital, LLC
Los Angeles-based Mesa West Capital (www.mesawestcapital.com)