SAN DIEGO—HFF says it has secured $23.5 million for Centro Apartments and Harborview Apartments, two class A multi-housing communities totaling 141 units in the National City area.
HFF worked on behalf of the borrower, PCD Capital Group and Birge & Held Asset Management, in arranging the two loans through Opus Bank. A $9.3 million fixed-rate loan was secured for Centro, and $14.2 million in fixed-rate financing was placed on Harborview. The new loans carry 10-year terms, with five-year initial fixed-rate periods on a non-recourse basis. Both loans are refinancing existing mortgages on the properties.
Centro Apartments and Harborview Apartments are situated within five blocks of each other at 45 East 12th Street and 819 D Avenue in the South Bay area of San Diego, about four miles south of downtown.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
