HFF arranges $13.3 million construction loan for Los Angeles area multifamily community

The Los Angeles office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a $13.3 million construction loan for Villa Vincennes, an 80-unit apartment community in the North Hills area of the San Fernando Valley in California.

Working exclusively on behalf of Southbrook Equity, HFF associate director John Crump placed a 12-year, fixed-rate construction-to-permanent loan with Principal Global Investors.  Southbrook Equity is a family-run, Beverly Hills-based developer focused on multifamily acquisitions and development in Southern California and San Antonio, Texas.

Villa Vincennes is located at 14611 Vincennes Street at the corner of Vincennes Street and Van Nuys Boulevard in the San Fernando Valley town of Panorama City.  Due for completion in 2009, the property will feature one-, two- and three-bedroom units ranging from 640 to 1,243 square feet.  Residents will have access to a pool, fitness center, recreation room, laundry facilities on each floor and 184 parking spaces. 

HFF (NYSE: HF) operates out of 18 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, note sales and note sale advisory services and commercial loan servicing. 

JOHN CRUMP                                            LAURIE FISH MCDOWELL
HFF Associate Director                              HFF Associate Director, Marketing
(310) 407-2100                                               (617) 338-0990
jcrump@hfflp.com                                       lmcdowell@hfflp.com