$22.5M financing of two Class A San Diego office properties secured by HFF

SAN DIEGO, CA – The San Diego office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured $22.5 million in non-recourse financing for Torrey Reserve North Court I and II, (above centered and bottom right photos) two Class A office properties located in the Del Mar Heights submarket of San Diego, California.

HFF senior managing director Tim Wright, (top right photo) managing director Bill Rose and associate directors Zack Holderman (middle left photo) and Rob Hinckley worked on behalf of American Assets, Inc. in arranging the 10-year fixed-rate loan with John Hancock Real Estate Finance.

Financing proceeds will retire an existing CMBS loan.

“There is competitive financing available for top-tier sponsors and best-in-class real estate – Torrey Reserve meets both those tests,” said Rose.

Completed in 1998, Torrey Reserve North Court I and II total 130,430 square feet and are fully leased to a variety of tenants including law, banking and securities firms.

Located at 11622 and 11682 El Camino Real within the nine-building Torrey Reserve office park, the properties are situated at the Interstate 5/Route 56 interchange providing easy access to Highways 52, 56 and the Sorrento Valley commuter facility.

American Assets, Inc. is a 40-year old real estate company focused on developing and owning commercial real estate in highly desirable West Coast markets including San Diego, San Francisco, Monterey and Waikiki. http://www.americanassets.com/.

HFF (NYSE: HF) operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, loan sales and commercial loan servicing.

CONTACTS:

Timothy D. Wright, HFF Senior Managing Director, (858) 552-7690, twright@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmailto:krmurphy@hfflp.com

http://www.hfflp.com/.

HFF secures $5.3M financing for West Palm Beach, FL multifamily community

SAN DIEGO, CA – The San Diego and Miami offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have secured $5.3 million in financing for Windward at the Villages, a 196-unit multifamily community in West Palm Beach, Florida.

Working exclusively on behalf of a California-based client, directors Aldon Cole (top right photo) of HFF San Diego and Elliott Throne (top left photo) of HFF Miami placed the 6.11% fixed-rate loan with Wachovia Multifamily Capital, Inc. – FNMA (Fannie Mae).

The loan has a 10-year term that is interest-only and is open at PAR after year five. Loan proceeds were used to acquire the property and the borrower has plans for nearly $1 million in future unit upgrades.

Located at 1441 Brandywine Road overlooking the Bear Lakes Country Club in West Palm Beach, Windward at the Villages has easy access to the Florida Turnpike, Interstate 95 as well as the central business and airport districts.

The 95% leased property has 12 buildings with one- and two-bedroom units averaging 938 square feet each. Community amenities include a swimming pool, tennis court, volleyball court, car wash area and fitness center.

“This was a timely acquisition for our client, who was able to take advantage of favorable debt in conjunction with purchasing an institutional-quality asset significantly below replacement cost,” said Cole.

HFF (NYSE: HF) operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, loan sales and commercial loan servicing. http://www.hfflp.com/.

Contacts:

ALDON L. COLE, HFF Director, (858) 552-7690, acole@hfflp.com

ELLIOTT P. THRONE, HFF Director, (305) 448-1333, ethrone@hfflp.com

KRISTEN M. MURPHY, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com