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| Bayshore Beach Villas Apartments, Long Beach, CA |
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| 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.
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| 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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