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| HoM @ West Temple Apartments, Silver Lake Neighborhood, Los Angeles, CA |
LOS ANGELES, CA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $15 million in
financing for HoM @ West Temple, a
67-unit, Class A apartment community in Los Angeles’ Silver Lake submarket.
HFF worked exclusively on
behalf of the borrower, Sharp Capital (Sharp), to place the seven-year, 3.51
percent loan with Principal Real Estate Investors (Principal). Sharp completed the property in February
2016, and the new financing will replace existing construction debt.
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| Jeff Sause |
Principal offered an early rate lock, securing
the interest rate three months prior to funding when the property was 50
percent pre-leased in order for Sharp to complete leasing efforts.
HoM @ West Temple features
a four-story building with one level dedicated to parking and a 750-square-foot
café on the ground floor.
Units have stainless steel appliances, quartz
stone countertops, designer fixtures, walk-in closets, polished concrete floors
or distressed wood-style flooring, in-unit security systems, and
balconies/patios offering views of the garden, city skyline or Hollywood Hills.
Community amenities include a landscaped
courtyard, garden, grilling area, 24-hour fitness center, clubhouse with pool
table, media center, car charging station and on-site management.
The property is located at 3221 West Temple Street just off
Highway 101 and Silver Lake Boulevard in the Silver Lake submarket, which is
proximate to Dodger Stadium, Griffith Park and downtown Los Angeles.
The HFF debt placement
team representing the borrower was led by director Jeff Sause.
“Placing long-term
financing on this asset demonstrates both our longstanding commitment to the
vibrant Silver Lake submarket, as well as the banking community’s confidence in
Sharp,” said David J. Shophet, a
principal of Sharp Capital. “We look
forward to continuing to participate in further development within this growing
area of Los Angeles.”
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
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