X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the debt and equity markets and the multifamily market, click here.)

LOS ANGELES-A locally based partnership has lined up $88.4 million in loans to refinance a 21-property mixed-use portfolio of Los Angeles area office, multifamily, retail, industrial and self-storage assets, according to Holliday Fenoglio Fowler. The package included three loans that produced “a low loan-per-sf ratio,” according to Paul Brindley of the Los Angeles office of HFF, who teamed with Scott McMullin and John Crump of HFF’s L.A. office to arrange the financing.

The borrower is a partnership between Angelo Gordon & Co. and locally based Barker Pacific Group, to secure three loans. The largest of the three financings is a $45.6-million, 10-year, fixed-rate loan for the self-storage assets in the portfolio. The other two included a $33-million secured revolving credit line for the office, multifamily and retail assets and a $9.8-million, seven-year, fixed-rate loan for the industrial assets.

Conduit lender Bank of America CMBS Capital Markets provided the $45.6-million loan and the $9.8-million loan, while Bank of America provided the $33-million credit line.

The portfolio comprises 6,241 self-storage units in 10 locations. The remaining three industrial, five retail, one office and two multifamily properties are at or close to 100% occupied.

The portfolio includes assets in locations throughout the Los Angeles area, among them Cerritos, San Dimas, Placentia, Paramount and Rancho Cucamonga. One of the properties is a self-storage asset in Santa Maria, several hours north of Los Angeles.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.