• Home
  • About
    • Track Record
    • Team
  • Invest
    • Investment Platform
    • Impact Housing
  • Services
  • Contact
Centre Urban
  • Home
  • About
    • Track Record
    • Team
  • Invest
    • Investment Platform
    • Impact Housing
  • Services
  • Contact

In the News.

Centre Urban Arranges Debt Recapitalization of Managed Palm Springs Commercial Asset

12/8/2020

2 Comments

 
Picture
LOS ANGELES, CA — DECEMBER 8, 2020 — Centre Urban Real Estate Services successfully solicited, negotiated and arranged the $1,318,000 debt recapitalization of the existing loan on 1700 Camino Real located in Palm Springs, California. The lender is Farmers & Merchants Bank of Long Beach. The loan is fixed for six years at 3.75%. Despite the severe impacts of the COVID-19 pandemic on commercial retail, particularly on food & beverage, the property was able to maintain 100% occupancy and is now at full collections. Centre Urban capitalized on the property’s quality, market resiliency, tenant performance, and low leverage to generate attractive loan terms.
 
The 5,800 square foot commercial property is a legacy asset of Tahiti Partners Properties Corporation, which successfully acquired, designed, entitled and developed the property in 2008 as a component of Oceo Palm Springs, its larger, award-winning development of nine private courtyard homes and 25 townhomes of built in the style of mid-century modern design. The property is located across from the renovated $35 million Ace Hotel. Amidst a local population of over 45,000 and within walking distance of over 1,000 hotel rooms, the property’s location would be considered prime. The strikingly pristine mid-century modern architecture has remarkable desert mountain views and produces high visibility from heavily trafficked East Palm Canyon Drive and Camino Real.
 
The property is anchored by award-winning Koffi. Voted Coachella Valley's best coffee shop, Koffi is a Palm Springs staple for locals and visitors alike. Established in 2002, Koffi is locally owned and operated, with four locations in Palm Springs and Rancho Mirage. In 2019, Centre Urban successfully leased up 4,200 square feet of vacant restaurant space, equipped with a state-of-the-art kitchen and a transformable dining space, to P.S. Underground. Established in 2012 and described as a “dining adventure” where menus are kept secret, ingredients are sourced from local seasonal ingredients, and no two events are the same, P.S. Underground had called art galleries, rooftops, gardens, private estates, shuttered restaurants, and warehouses home until establishing its permanent location at the property. Both tenants continue to successfully navigate the COVID-19 pandemic under Centre Urban’s management of the property.

Centre Urban Real Estate Services is the brokerage, property management and advisory arm of Centre Urban Real Estate Partners, Inc., a privately held, vertically integrated commercial real estate investment, development, advisory, and asset management company originally founded in 2001. Part of Centre Urban's suite of services include third-party investment advisory on debt placement and capitalization. 

###

For more information:

Eugene F. Page
Principal, Brokerage & Advisory
(213) 265-7505
[email protected]

Centre Urban Marketing
(213) 265-7505
[email protected]
2 Comments
PTS Terbaik link
9/23/2022 04:33:50 am

what company is an urban center?

Reply
Mature Gay Temple link
5/16/2025 10:19:14 pm

This sounds like a great investment opportunity.

Reply



Leave a Reply.

    Other News

    October 2024
    April 2024
    October 2023
    December 2021
    October 2021
    January 2021
    December 2020
    May 2020
    March 2020
    December 2019
    November 2019
    October 2019
    August 2019
    March 2019
    February 2019

Picture

Company

Home
About
​Team
Invest
​Impact Housing
Services

Support

​Contact
Careers
​
Info
Tenants
Investors
CENTRE URBAN CAPITAL PARTNERS ​© COPYRIGHT 2025.
ALL RIGHTS RESERVED. CA DRE #01527042
  • Home
  • About
    • Track Record
    • Team
  • Invest
    • Investment Platform
    • Impact Housing
  • Services
  • Contact