Tuesday, February 18, 2014

HFF secures $4.1 million refinancing for Bayshore Beach Villas in Long Beach, CA


Bayshore Beach Villas Apartments, Long Beach, CA

Charles W. Halladay
IRVINE, CA - HFF announced today that it has secured a $4.1 million refinancing for Bayshore Beach Villas, a 23-unit multi-housing community in Long Beach, California.

HFF worked on behalf of the borrower, Universe Holdings, to secure the seven-year, 4.34 percent, fixed-rate loan through Freddie Mac (Federal Home Loan Mortgage Corporation).  HFF will service the securitized loan through its Freddie Mac Program Plus® Seller/Servicer program. 

This is the 11th refinancing HFF has arranged for Universe through the agency lender in the last two years.  The properties refinanced are all located throughout Southern California and total 790 units and $73.6 million in financing.

Bayshore Beach Villas is a fully leased community with three two-story residential buildings.  Located at 40 Bay Shore Ave, the property is on the bay with spectacular views of Belmont Shore Beach, and is close to Seal Beach, Huntington Beach and the 605 and 405 Freeways.

The HFF debt placement team representing the borrower was led by director Charles Halladay.

Universe Holdings led by Henry Manoucheri, its Chairman and CEO is an experienced operator of  several thousand apartments, with more than 80 cumulative years of experience owning, managing, and renovating Class B multifamily properties in Southern California.

Henry Manoucherie

“We are very pleased with the consistent and professional execution of the HFF team,” stated Henry Manoucheri.  

“Our firm continues to return capital and exceptional steady returns to our private and institutional investors.  We look forward to acquiring more coastal value-add opportunities from San Diego to the Bay area.”
  
For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
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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