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5/20/16
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HFF has arranged $129.78 mil in financing for two Class A apartment communities, The Knolls and Westlake Canyon, totaling 672 units in Thousand Oaks. The borrower is a joint venture between institutional investors advised by J.P. Morgan Asset Management and SARES-REGIS Group.
The Knolls and Westlake Canyon are adjacent communities located at 2544 Vista Wood Circle and 2338 Fountain Crest Lane, respectively. The properties are situated northeast of the intersection of State Rd 23 (Moorpark Fwy) and the 101 Fwy, and are accessible to amenities, including multiple retail destinations, nature trails at the Santa Monica National Recreation Area, wine tasting at Westlake Village Inn Resort and lakeside dining at Westlake Lake.
The Knolls offers residents two swimming pools, four spas, a fireside lounge, clubhouse with library, fitness center, two racquetball courts and lighted tennis court. Westlake Canyon has an amenity package featuring a heated swimming pool, spa and fitness center.
HFF’s Mike Tepedino, Kevin MacKenzie Charles Halladay and Brian Torp arranged the five-year, floating-rate loan with a national bank. Loan proceeds were used to pay off maturing debt and fund future planned capital improvements.
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