 |
| Villa Toscana Apartments, 20918 Gresham Street Canoga Park, CA |
 |
| Blake Rogers |
LOS ANGELES, CA – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the $11.5 million sale of
and arranged $7.27 million in financing for
Villa Toscana, a 49-unit, Mediterranean-style apartment community in Canoga
Park, California.
HFF marketed the property
on behalf of the seller, a joint venture between Pacific Crest Realty and a
private equity investment partner.
The property was purchased
free and clear of existing debt by Gresham Villa Toscana, LLC, a new entity
controlled by Plutsky Limited Partnership.
HFF worked on the buyer’s behalf to place the five-year, fixed-rate, 20-year
term acquisition loan with Freddie Mac’s small balance loan program at a rate
of 2.88 percent.
Villa Toscana is located
at 20918 Gresham Street in the San Fernando Valley approximately 27 miles
northwest of downtown Los Angeles.
Completed in 2003, the non-rent controlled property features one-, two-
and three-bedroom units averaging approximately 960 square feet each.
 |
| Marc Schillinger |
The community features a
swimming pool, fitness center, courtyard area, assigned garage parking and
gated access.
The asset provides nearby
access to two of Los Angeles County’s largest shopping malls – Westfield
Topanga and Westfield Promenade – as well as the soon-to-be-completed $350
million Westfield Village lifestyle center, which will connect the two existing
malls.
The HFF investment sales
team representing the seller was led by director Blake Rogers.
HFF’s debt placement team
representing the buyer was led by director Marc
Schillinger.
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
No comments:
Post a Comment