Dan Bryson of the Dallas office of Holliday Fenoglio Fowler says the loan is for 10 years at a fixed rate from Archon, which is a conduit lender.
Kingsley Apartments is at 333 S. Kingsley Ave. in the Wilshire Center district of Los Angeles. Bryson says the property, which was built in 1985 and recently was renovated, was 98% leased at the time of the sale.
Borrower FSC Realty is a privately held owner and operator of apartments, shopping centers, and office buildings. The company and its predecessors have been involved in over $1.5 billion of real estate transactions. Holliday Fenoglio Fowler has capitalized commercial real estate debt, equity, structured finance and investment sales transactions of nearly $57 billion.
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