Monday, August 29, 2016

HFF arranges $15 million financing for 67-unit apartment community in Los Angeles, CA

HoM @ West Temple Apartments, Silver Lake Neighborhood, Los Angeles, CA

LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $15 million in financing for HoM @ West Temple, a 67-unit, Class A apartment community in Los Angeles’ Silver Lake submarket.

HFF worked exclusively on behalf of the borrower, Sharp Capital (Sharp), to place the seven-year, 3.51 percent loan with Principal Real Estate Investors (Principal).  Sharp completed the property in February 2016, and the new financing will replace existing construction debt.

Jeff Sause
 Principal offered an early rate lock, securing the interest rate three months prior to funding when the property was 50 percent pre-leased in order for Sharp to complete leasing efforts.

HoM @ West Temple features a four-story building with one level dedicated to parking and a 750-square-foot café on the ground floor.

 Units have stainless steel appliances, quartz stone countertops, designer fixtures, walk-in closets, polished concrete floors or distressed wood-style flooring, in-unit security systems, and balconies/patios offering views of the garden, city skyline or Hollywood Hills.

 Community amenities include a landscaped courtyard, garden, grilling area, 24-hour fitness center, clubhouse with pool table, media center, car charging station and on-site management.  

The property is located at 3221 West Temple Street just off Highway 101 and Silver Lake Boulevard in the Silver Lake submarket, which is proximate to Dodger Stadium, Griffith Park and downtown Los Angeles.

The HFF debt placement team representing the borrower was led by director Jeff Sause.

“Placing long-term financing on this asset demonstrates both our longstanding commitment to the vibrant Silver Lake submarket, as well as the banking community’s confidence in Sharp,” said David J. Shophet, a principal of Sharp Capital.  “We look forward to continuing to participate in further development within this growing area of Los Angeles.”

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 |

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