IRVINE, CA – HFF announced today that it has secured a $34 million refinancing for Carmel Apartments, a 306-unit, Class A multi-housing community in Rancho Cucamonga, California.
Working exclusively on behalf of Lewis Operating Corp., HFF placed the 12-year, 5.01 percent, fixed-rate loan with Northwestern Mutual. Loan proceeds refinanced a maturing loan.
Carmel Apartments is located at 10850 Church Street across from Terra Vista Town Center and close to Victoria Gardens Center, the LA/Ontario International Airport, and Interstates 210, 15 and 10 in Rancho Cucamonga. The 15.8-acre site has 21 residential buildings that are 97.1 percent leased. Community amenities include a pool, wading pool, clubhouse, business center, fitness center and play park.
The HFF team representing Lewis Operating Corp. was led by Don Curtis and Charles Halladay.
Lewis Operating Corp. is a member of the Lewis Group of Companies. Founded in 1955, the Upland, California-based Lewis Group of Companies is one of the nation’s largest privately-held real estate organizations engaged in the acquisition, ownership, development and management of residential and commercial real estate throughout California and Nevada. The Lewis Group of Companies has developed more than 65,000 single family homes and apartments and more than 14 million square feet of retail, office and industrial space. For more information about Lewis Operating Corp. and the Lewis Group of Companies visit www.lewisop.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