HFF arranges $99.891 million financing for mixed-use development in Los Angeles’ Arts District
LOS ANGELES, CA – June 5, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $99.891 million in financing for the development of Arts District AMP Lofts, a luxury mixed-use residential and retail property in Los Angeles’ Arts District.
Working on behalf of the developer, Greystar, HFF placed the 48-month construction loan with CIT’s Real Estate Finance business.
Arts District AMP Lofts will have 320 Class A multi-housing units situated above 20,000 square feet of ground-floor retail. The property will occupy more than half of a large industrial block on E. 7th Street between Imperial Street and S. Santa Fe Avenue in the thriving Arts District, less than a mile from downtown Los Angeles. Arts District AMP Lofts will be situated directly across from a 255,000-square-foot creative office development, which will be fully leased to Warner Music Group. The area is also home to an array of fine dining and entertainment options and for-sale loft projects with more than 1.2 million square feet of office space currently under development. Due for completion in 2019, property amenities will include a community garden and park, dog run, outdoor creative workspace, club house with bar and indoor/outdoor lounge space, state-of-the-art fitness center and outdoor pool.
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development and property management of rental housing properties globally. Headquartered in Charleston, South Carolina, with offices throughout the United States, Europe, and Latin America, Greystar is the largest operator of apartments in the United States, managing over 400,000 units in over 160 markets globally. Greystar also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors with over $14 billion in gross assets under management including $6.9 billion of developments underway. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental housing real estate business. To learn more about Greystar, visit greystar.com.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker Licensed with the California Department of Real Estate, License Number 01385740.