LOS ANGELES, Feb. 7, 2023 - JLL Capital Markets announced today that it closed the recapitalization of Lido Marina Village, a 3.06-acre, coastal mixed-use shopping center located in Newport Beach, California.
JLL represented the existing ownership, DJM Capital and Arc Capital Partners through a partnership with Belay Investment Group, in the transaction with Redwood West joining the partnership. As part of the transaction, Arc Capital Partners and Belay Investment Group exited the original partnership. JLL also secured financing through a relationship life company.
Built in 1971 and renovated in 2016 and 2022, Lido Marina Village features 77,922 square feet of retail space and 28,694 square feet of office space, drawing 1.5 million visitors annually. The property offers dramatic water views, boutique retail, high-end dining and creative office space within the pedestrian-friendly village. The property also includes a 47-slip marina deck overlooking the bay, attracting upscale stores and restaurants like Nobu, Zinque, Malibu Farm and Circle Hook Fish Company to occupy the waterside space. Additional tenants include Aesop, Warby Parker, Elyse Walker, Faherty, Curl Fitness, Eberjay and LoveShackFancy.
Since acquiring Lido Marina Village in 2013, DJM has performed extensive renovations that have transformed the property's format and appearance. Additionally, they have rebranded the property as a luxurious attraction known by tourists and visitors alike for its high-profile tenants. With a current occupancy of 100% across the retail and office components, Lido Marina Village continues to thrive as shoppers gravitate to Lido's inviting open-air, waterside environment.
The JLL Capital Markets Investment Sales Advisory team was led by Managing Directors Bryan Ley, Geoff Tranchina and Gleb Lvovich, Senior Director Tim Kuruzar and Director Daniel Tyner. The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Jeff Sause, Senior Director John Marshall and Director Alex Olson.
"The DJM Capital team has done a terrific job transforming Lido Marina Village into a world-class retail and dining destination. With the addition of the Redwood West Team, Lido Marina Village will continue to shine and be that landmark destination in Orange County," said Ley.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Inc. published this content on 07 February 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2024 15:46:30 UTC.
