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| Heights at Echo Park Apartments, Echo Park Neighborhood, Los Angeles, CA |
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| Blake Rogers |
LOS ANGELES, CA – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured
financing for Heights at Echo Park,
a 29-unit, Art Deco-style multi-housing property in Los Angeles’ Echo Park
neighborhood.
HFF marketed the property
on behalf of the seller, a private investor.
The asset was purchased for $6.85 million free and clear of existing
debt by Engine Real Estate, LLC. In addition,
HFF arranged $4.345 million in acquisition financing on behalf of the buyer
through a local bank.
In the past 90 days, HFF
has closed four middle-market multi-housing properties in the Los Angeles area,
including Hollywood Tower in Hollywood; Villa Toscana in Canoga Park; and
Majestic Prairie in Northridge.
Originally completed in
1928, Heights at Echo Park is located just north of iconic Sunset Boulevard
near Echo Park Lake, Dodger Stadium, Interstate 5 and Highway 101 in central
Los Angeles. The historic, four-story
property consists of a mix of studio and one-bedroom units totaling
approximately 20,889 square feet.
Property features include a classic Art Deco lobby, spacious floor plans
with exposed brick walls, laundry facilities and outdoor community space.
The HFF investment sales
team representing the seller was led by director Blake Rogers.
HFF’s debt placement team
was led by director Marc Schillinger.
For a complete copy of the company’s news
release, please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725
| www.hfflp.com
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