HFF Secures Refinancing For 115-Units in California

LOS ANGELES, CA – HFF announced today that it has secured a $6 million refinancing for Americana Northridge Apartments, a 115-unit multi-housing community adjacent to California State University in Northridge, California.

Working on behalf of Hager Pacific Properties, HFF placed the 15-year, fully-amortizing, 4.95 percent, fixed-rate loan with a life insurance company.  HFF will also service the loan. 

Americana Northridge Apartments is situated on two acres at 9740 Zelzah Avenue about three miles west of the 405 Freeway in Northridge, northwest of Los Angeles.  The 95% leased property has studio, one- and two-bedroom units averaging 600 square feet each. 

The HFF team representing the borrower, Hager Pacific Properties, was led by managing director Mark Wintner.

As a real estate investment firm, Hager Pacific Properties is guided by a value-added investment philosophy implemented through the acquisition of under-performing, aged or environmentally impacted real estate.  Its investments have become more valuable through repositioning, renovation or reuse of the property.  The preferred buyer of challenging properties, Hager Pacific Properties self-funds its real estate deals without outside capital.  The company’s portfolio consists of more than 100 assets ranging in size from 25,000 to more than 1 million square feet and features a wide variety of product types including office buildings, research and development complexes, apartment buildings, community shopping centers, warehouses and industrial facilities.  The total portfolio consists of 10 million square feet of industrial properties and 2,300 apartment units valued at more than $1 billion. For more information about Hager Pacific Properties, please visit www.hagerpacific.com

Holliday Fenoglio Fowler, LP (“HFF”) and HFF Securities LP (“HFFS”) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 19 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing.  www.hfflp.com

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