LOS ANGELES, CA-Holliday Fenoglio Fowler LP hasarranged $124.9 million in refinancing for a four-buildingportfolio in downtown Burbank and LA’sMiracle Mile, on behalf of the owner,Kennedy Wilson. The refinancing includes $109.9 insenior debt provided by GE Capital Real Estate,plus $20 million in mezzanine debt from an undisclosedinstitutional investor.
The loans have three-year terms. The refinancing replacesloans that the owner used to buy the portfolio in 2007.
The new loan package takes advantage of current low interestrates, Mark Wintner, HFF managingdirector tells GlobeSt.com. “We were able to restructure ahigh-leverage loan to Kennedy Wilson that was acquired in 2007,when the market was aggressive and prices were expensive,” he says.
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