HFF has arranged $166.66 mil in combined financing for two recently constructed, Class A multi-housing communities totaling 670 units in Southern California. The properties, located in Santa Ana and San Marcos, are both owned by Lyon Communities.
In Orange County, HFF arranged an $88 mil, 10-year, 3.32 percent, fixed-rate loan for The Marke at South Coast Metro. Situated on 4.44 acres at 100 East MacArthur Blvd in Santa Ana, property is near major arteries such as I-405 and Hwy 55.
The Marke at South Coast Metro |
 |
|
Completed in 2014, the building’s 300 units are composed of 168 one-bedroom, 118 two-bedroom and 14 three-bedroom units averaging 917 sf in size. The resort-style property features a saltwater pool with an outdoor theater, private cabanas, outdoor fire pits and dining tables; a clubhouse with bowling lanes, billiards, Ping-Pong, arcades, a bar/restaurant and an elite training facility with NFL Combine trainer Ryan Capretta of Proactive Sports Performance. On the main level, two courtyards with gas barbecues, outdoor fire pits and seating offer residents another common area.
Services include customized health and fitness programs, food and beverage service, event planning, housekeeping and pet services including walking, grooming and care. The property consists of five levels of living area surrounding a six-story parking garage with one subterranean level.
In San Marcos, HFF arranged a $78.66 mil, 10-year, 3.32-percent, fixed-rate loan for Palomar Station, a 370-unit lifestyle community. Located at 1257 Armorlite Dr in San Marcos, it’s approximately 35 miles north of San Diego and is just one block from Palomar College and the Sprinter Commuter Rail, which connects services to and from downtown San Diego, in addition to Orange County and Los Angeles.
The property’s 16 buildings each have three stories and house 186 one-bedroom, 140 two-bedroom and 44 three-bedroom units averaging 931 sf. Completed in 2014, the property features two resort-style pools, a spa, two e-business centers, pet spa, conference center, outdoor TV wall, fitness center, Wi-Fi access in outdoor areas, game room, fire pits, bike storage, barbeques and an entertainment area. Additionally, Palomar Station includes in-line retail and private parking.
Both loans were financed through Freddie Mac’s premiere lease-up program. The Marke and Palomar Station were 63 and 55 percent occupied at closing, respectively. The HFF team representing the borrower was led by managing director Charles Halladay and real estate analyst Sebastian Trujillo.
|
Printer-friendly Version
Email an Associate
Return to the Archive page
