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 refinanci

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