Owner, developer of Carmel Valley shopping center re-finances debt
Baldwin & Sons has owned and managed the Carmel Valley center since developing the property in the early 1990s.
Dante Ulanday - News Moderator 
A $66 million loan has been issued to refinance Piazza Carmel, a retail center in Carmel Valley that includes shopping and dining options.
A Walker & Dunlop Irvine Capital Markets team led by Gregory Richardson and Sean Skelton arranged the fixed-rate loan on behalf of Baldwin & Sons, which has owned and managed the center since developing the property in the early 1990s.
The center, located at 3804-3890 Valley Centre Drive and 3775-3881 Valley Centre Drive, also features personal, dental and financial services businesses.
PGIM Real Estate provided the capital to retire the existing commercial mortgage-backed securities loan.
“We’re grateful for the opportunity to collaborate once again with the experienced team at Baldwin & Sons, and proud to have arranged another successful refinancing for a property that reflects the energy and lifestyle of San Diego,” said Richardson, managing director of Capital Markets at Walker & Dunlop, in a news release.
