HFF arranges $33.34 million recapitalization for Inland Empire multifamily communities

The Orange County office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged recapitalizations totaling $33.34 million for two multifamily communities in California’s Inland Empire, Sunscape Apartment Homes in Alta Loma and Linden Court Townhomes in Rialto.

Working on behalf of Lewis Operating Corp., HFF senior managing director Don Curtis placed two 5.75% fixed-rate loans with a confidential agency. A $16.89 million loan was secured for Sunscape and a $16.45 million loan was arranged for Linden Court.

Sunscape Apartment Homes has 172 one- and two-bedroom units averaging 806 square feet each. Select two-bedroom units have attached one-car garages and additional garages are available for rent. On-site amenities include a pool and spa, fitness center, playground, lounge and tennis courts. The 97% occupied property is located at 8840 19th Street adjacent to a Von’s anchored retail center close to the 210 Freeway in Alta Loma.

Linden Court Townhomes are located at 372 South Ironwood convenient to the 10 and 210 Freeways in Rialto. The property offers 180 two- and three-bedroom townhomes averaging 1,084 square feet each. Units feature washer/dryers, private patios and direct access one- and two-car garages.

“The Inland Empire apartment market continues to maintain vacancies in the 5% range and rents have been increasing at a robust pace,” said Curtis.

The Lewis Group of Companies was founded in 1955 and has developed into the dominant player in Southern California’s Inland Empire real estate market.