HP Investors Receives $19M in Financing for Gaslamp Square Retail Property in Downtown San Diego

SAN DIEGO — HP Investors has received $19 million in recapitalization financing for Gaslamp Square, a retail property at 405 5th Ave. in San Diego. Scott Peterson, Bill Chiles, Brian Cruz and Colby Matzke of CBRE arranged a floating-rate loan on behalf of the borrower. The financing features a multi-year interest-only period and a competitive structure with a maturity in 2029.

Gaslamp Square features 54,856 square feet spanning a full block at 5th Avenue and J Street in downtown San Diego’s Gaslamp Quarter. The asset consists of retail condominiums and a 243-stall subterranean parking garage.