Tuesday, October 13, 2015

HFF closes sale of and secures financing for 29-unit multi-housing property in Los Angeles’ Echo Park

Heights at Echo Park Apartments, Echo Park Neighborhood, Los Angeles, CA

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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