HFF announces $25 million financing for The Line Lofts in Hollywood, CA

The Line Lofts, 1737 North Las Palmas Avenue, Hollywood, CA

LOS ANGELES, CA –– HFF announces $25 million in financing for The Line Lofts, a newly completed, architecturally inspired community in Los Angeles’ iconic Hollywood neighborhood comprising 82 residential lofts and flats and a robust collection of hospitality-inspired amenity spaces designed to act as an extension of each residence.

Zoltan Pali

 The HFF team worked on behalf of the borrower, Wilshire Skyline, to arrange the 10-year, 4.45 percent fixed-rate loan through a correspondent life insurance company. 

The non-recourse loan replaced existing construction financing and includes a $5 million future earn-out component at stabilization. 

 The loan is among the first of its type to close through a new debt program that allows borrowers to close on long-term loans and lock in lower interest rates prior to being fully stabilized if the development can support strong underwriting and high appraisals. 

 The property, which celebrated its grand opening on Memorial Day weekend, achieved 75 percent occupancy within its first four months.

 The Line Lofts (www.thelinelofts.com) is located at 1737 N. Las Palmas Avenue just northeast of the high-profile intersection of Hollywood Boulevard and N. Highland Avenue. 

Mark Wintner

Designed by award-winning architect Zoltan Pali of SPF:architects, the six-story, Class A property blends modern architectural elements with energy-efficient, open floor plans ranging from 415 to 1,477 square feet featuring luxury kitchens and baths; double-pane architectural windows, which optimize natural light and views of the city and the Hollywood Hills; wood-grain plank flooring; and atrium-style outdoor balconies.  

Common areas include The Sky Lounge, a penthouse-level lounge providing unobstructed views of the city; The Retreat, an indoor/outdoor recreation center with a kitchen and lofted library, which opens to the outdoor pool and spa deck; The Wellness Spot, a lobby-level gym; and ground-floor retail. 

 The property, which has a WalkScore® of 97, offers a menu of various concierge services and offers immediate access to some of Los Angeles’ top retail, dining, nightlife and recreation destinations as well as two metro stations and U.S. Highway 101.

 The HFF debt placement team representing the borrower consisted of managing director Mark Wintner.

Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

 Founded by Eugen and Raphy Nissel in 1973 and incorporated in 1989, Wilshire Skyline is a service-forward real estate management and development company committed to quality in all things with all people — residents, vendors and staff alike.

 CONTACTS:

MARK WINTNER

CA Lic. #01338778

HFF Managing Director

(310) 407-2100

mwintner@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

ERICA FEHER

The Line Lofts Public Relations

(310) 586-7180

efeher@murphyobrien.com

CONTACTS:

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