HFF Secures $11M Financing for 2 Walnut Creek Communities
- Mar 03, 2017
San Francisco—HFF has arranged financing deals totaling $10.5 million for two Walnut Creek, Calif. apartment communities, Vista Terrace and Oak Terrace. Senior Managing Director Tom Wilson and Director Chris Gandy led HFF’s debt placement team representing the borrower, PTLA Real Estate Group. The two seven-year, fixed-rate loans were placed with a national bank lender.
Located at 1355 Mount Pisgah Road, Vista Terrace is a 40-unit community offering a mix of one-, two- and three-bedroom floor plans. Amenities include a landscaped courtyard, private balconies, stainless steel appliances and newly renovated designer interiors. The property is close to Interstate 680 and the Walnut Creek BART station and just east of numerous retail, dining and entertainment amenities in downtown Walnut Creek.
Situated one mile west of Vista Terrace at 1414 Oakland Blvd., Oak Terrace features eight two-bedroom units, averaging 750 square feet each. The property was renovated in 2016 and has been fully leased as of the closing of the financing deals.
Image courtesy of HFF