Middle Market Digest: Southwest

Here’s a look at the latest news, announcements and deals that you may have missed in Southern California, Nevada, Arizona and Utah.

DEALTRACKER

LOS ANGELES—Mosser Capital has secured $42.33 million for a six-property, 222-unit multi-housing portfolio in Los Angeles, California. The HFF team worked on behalf of the borrower to secure three separate five-year, floating-rate loans through ACORE Capital, LP.  Loan proceeds were used acquire the properties, upgrade common areas and improve rental units as they turn. The properties in the portfolio are: 1317 Bronson (16 units), 1417 Bronson (45 units), 407 Gramercy (31 units), 1217 Berendo (16 units), 1234 Berendo (14 units), and the Lido Apartments at 6500 Yucca Street (100 units).  All properties are near mass transit in the Hollywood and Koreatown submarkets. The HFF debt placement team representing the borrower included senior managing director Peter Smyslowski and associate Bercut Smith.