Tuesday, June 28, 2016

HFF arranges $42.565 million in financing for Los Angeles area creative office building

465 North Halstead Office Building, Pasadena, CA

Eric Tupler
DENVER, CO – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $42.565 million in financing for 465 North Halstead, a 238,205-square-foot creative office building in Pasadena, California.

Working on behalf of the borrower, a partnership between EverWest Real Estate Partners and The Rhône Group, HFF placed the five-year, floating-rate loan with Bank of America.  Loan proceeds were used to acquire the property.  The loan has two, one-year extension options.

465 North Halstead is situated on a 9.6-acre site in the Tri-Cities area of Los Angeles, home to JPL, Caltech, the Art Center College of Design and multiple Fortune 500 companies. 

With a Walk Score© of 77, the property is within walking distance of numerous retailers, more than 50 restaurants and the Sierra Madre Metro Gold Line station providing access to downtown Pasadena, downtown Los Angeles and the entire San Gabriel Valley.

 Recently renovated in 2015, 465 North Halstead features 12’ plus ceiling heights, polished concrete floors, private entrances, high-speed fiber optic connections and collaborative outdoor space.  Eight tenants occupy the 89-percent-leased property including Giant Magellan Telescope, Community Bank, Sierra Lobo and OeWaves.

The HFF debt placement team representing the borrower was led by senior managing director Eric Tupler and director Marc Schillinger. 

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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