LOS ANGELES, CA – HFF announced today that it has secured financing totaling $15 million on behalf of Omninet Capital, LLC for Siete Square (top left photo) in Phoenix, Arizona and Broadway Industrial in Los Angeles, California.
HFF placed the fixed-rate loans with Jefferies LoanCore Capital. A 10-year loan was secured for Siete Square and a five-year loan was secured for Broadway Industrial. The loan proceeds were used to acquire and refinance the properties, respectively.
Siete Square has two office buildings totaling 114,029 square feet that are located at 3737 and 3877 North 7th Street in Phoenix’s midtown/central submarket.
Siete I is a two-story, 57,449-square-foot building and Siete IV is a four-story 56,580-square-foot building with a two-story parking garage. Combined the properties are 89 percent leased to tenants including the Social Security Administration and the Arizona Department of Transportation.
Broadway Industrial is located at 140 N. Ave 19 in Los Angeles. The property has 11 buildings totaling 122,115 square feet and is fully leased to tenants including Veolia Transportation and Stadco.
The HFF team representing Omninet Capital, LLC was led by director Christopher Vittetoe (lower right photo).
“Working with the Omninet team has been a pleasure as they continue to be one of the fastest growing real estate investors on the West Coast. Their professional team and work ethic doesn’t go unnoticed when working on acquisitions or refinances,” said Vittetoe.
Omninet is an experienced real estate firm with a portfolio of office, industrial, multifamily and retail properties.
Contacts:
Christopher Vittetoe, HFF Director, (310) 407-2100, cvittetoe@hfflp.com,
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,
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