IRVINE, CA –HFF announced today that it has arranged a $14.85 million refinancing for Village View (top left photo), a 114-unit garden-style multi-housing community in Oceanside, California.
HFF worked on behalf of the borrower to secure the 35-year, fixed-rate loan through M&T Realty Capital Corporation. The borrower took advantage of the low interest rate environment and locked in a rate of 3.95 percent. The loan is an FHA 223(f) refinance of an existing bridge loan through M&T Realty Capital Corporation that HFF arranged at the time of the acquisition in 2010.
Village View is located at 3634 College Boulevard about four miles from the coast in Oceanside. The property has 138,860 square feet in 10 two- and three-story apartment buildings and a single-story management office/fitness center. The property is currently 95 percent occupied.
The HFF team representing the borrower was led by Mark Erland and Charles Halladay (bottom right photo), based in HFF’s Orange County office.
Contacts:
Charles W. Halladay, HFF Associate Director, (949) 253-8800
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500
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