RENO, NV-Buff Management, the owner of the 900-unit Rosewood Park Apartments, has secured a $26 million, five-year, fixed-rate loan through AIG Asset Management that was arranged by the Irvine, CA office of HFF, which will also service the loan. The loan proceeds replaced an existing financing that matured in September.

Rosewood Park Apartments is situated on 38.13 acres at 4500 Mira Loma Dr. near the Reno/Tahoe International Airport in Southeast Reno. The property has 112 buildings with one-, two- and three-bedroom units averaging 833 square feet each. Community amenities include four pools, four lighted tennis courts, four basketball courts, two spas, a fitness center, volleyball court and on-site laundry. The complex was 86% leased at the time the loan closed.

The HFF team representing Buff Management was led by managing director David Bleiweiss and associate director Greg Brown. “With our life company correspondent relationships, we were able to secure an attractive fixed-rate loan on the largest apartment project in the Reno market, on an asset that had only recently stabilized and in a market that has been doing the same,” Bleiwess said.