LA MESA, CA-Orange County-based investment firm JH Real EstatePartners has acquired the 124-unit Central Park apartments with a$14 million loan arranged by Manhattan Beach-based Venture WestFunding, according to Venture West. JH bought the property fromNordbank of Germany, which acquired it in November 2009.

According to Venture West senior vice president Don Simkins, whoarranged the financing through CapitalSource for JH Real Estate,the financing is a five-year fixed, non-recourse loan amortizedover 30 years. "The loan has prepayment flexibility as well asborrower-required leverage," Simkins says. CapitalSource is acommercial lender that provides financial products to middle marketbusinesses and offers depository products and services in southernand central California through its wholly owned subsidiaryCapitalSource Bank. It is lending on loan amounts from $750,000 to$15 million on stabilized, well-located properties inCalifornia.

The Central Park apartments were built in 1989 and completelyrenovated to condos in 2006. The complex consists of sevenbuildings on 12.63 landscaped acres. Amenities include swimmingpools; spa, fitness and business centers; and a clubhouse.