/
|
RCB Equities and Real Estate Development Associates LLC have secured a $115 million loan to acquire the 1 million-square-foot Puente Hills Mall in City of Industry, Calif. The partners plan to redevelop and revitalize the mostly empty property made famous in the 1985 film “Back to the Future.”
Hankey Capital provided the non-recourse, three-year floating rate financing in a deal arranged by JLL. Managing Director Mark Wintner led the JLL Capital Markets Debt Advisory team. The joint venture purchased the mall from Kam Sang Co. of Arcadia, Calif. Kam Sang had acquired it in 2014 for $100 million, public records show.