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Buff Management Refinances 900 Units for $26M

RENO, NV-The owner of the Rosewood Park Apartments secures a five-year, fixed-rate loan arranged by the Irvine, CA office of HFF, which will also service the loan.

By Bob Howard | Updated on October 27, 2011

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.

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