Wednesday, September 10, 2014

HFF closes $6.6 million sale of and arranges acquisition financing for apartment community in Hemet, CA

  
Hunter Combs
SAN DIEGO, CA – HFF announced it has closed the $6.6 million sale of and arranged acquisition financing for Park Columbia Apartments, a 151-unit apartment community in Hemet, California.

                HFF marketed the property on behalf of the seller.  Srinivas Yalamanchili, a private investor, purchased the property for $6.6 million free and clear of existing debt.  HFF also worked on behalf of the buyer to place a 10-year, fixed-rate loan with FNMA. 

                Park Columbia is located at 201 South Columbia Street approximately .75 miles from the junction of Highways 74 and 79 in Hemet. 

The two-building community is 95 percent leased and includes studio, one- and two-bedroom floor plans ranging between 385 and 830 square feet each. 


Pat Burger
Community amenities include two swimming pools, two spas, grill area and expansive courtyards.

                The HFF investment sales team was led by director Hunter Combs. 

                HFF’s debt placement team was led by director Pat Burger and senior real estate analyst Kara Mathis.


For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046


No comments:

Post a Comment