HUNTINGTON BEACH, CALIF. — TIAA Global Asset Management’s real estate division and DJM Capital Partners have formed a joint venture to own and manage Pacific City Shopping Center in Huntington Beach. TIAA has acquired a 70 percent stake in the 190,900-square-foot property, which DJM developed in 2015.
An affiliate of DJM Capital Partners retains the remaining 30 percent stake.
DJM Capital Partner’s prior partner, a private investor, sold its interest to TIAA for an undisclosed sum. Eastdil Secured advised DJM Capital Partners in the transaction.
Pacific City is occupied by a variety of tenants, including Equinox, H&M, Free People, Sephora, MAC Cosmetics, Brent Bolthouse’s Bungalow, Bluegold, Ola Mexican Kitchen, St. Marc and Ways & Means Oyster House.