6-13-14

M id A tlantic P ennsylvania S potlight C entral PA Sun National Bank secured 10-year fixed rate loan HFF arranges $8m financing for Village Knoll Apartments in suburban Harrisburg, PA Real Estate Journal — Pennsylvania — June 13 - 26, 2014 — 3C

www.marejournal.com

H

since 1989, the property con- sists of 24, two-story build- ings that include a mix of one-bedroom plus den and two-bedroom units averag- ing 856 s/f each. Community amenities include a dog run, tennis courts, basketball court and picnic area. The property is 92% leased. The HFF team represent- ing the borrower was led by director Michael Klein and associate director Samuel Seiden . “The borrower’s goal was to obtain attractively priced 10-year money with as much prepayment flexibility as possible,” said Klein. “Sun National Bank was able to meet the borrower’s needs and executed the transaction flawlessly.” n

ARRISBURG, PA — HFF announced that it has arranged

an $8 million financing for Village Knoll Apartments, a 204-unit multi-housing community in suburban Har- risburg. HFF worked on behalf of the borrower, LCL Manage- ment LLC., to secure the 10- year, fixed-rate loan through Sun National Bank . Loan proceeds will be used to retire existing debt, and fund unit upgrades and other capital improvements to the com- munity. Village Knoll Apartments is situated on a 16.96-acre site at 100 Joya Circle, four miles west of downtown Har- risburg in Lower Paxton Twp. Owned by the borrower

Village Knoll Apartments

General Contractor

Law Firm/Comm’l RE&Construction Capabilities

A Proud Leader in

Lancaster York Reading Hanover Malvern

barley.com

Sustainable Construction

@BarleySnyder

Our dedicated real estate attorneys provide comprehensive legal services to assist clients in every stage of the real estate transaction. We regularly represent developers, businesses, public entities and individuals. Negotiation • Due diligence • Permits & Approvals Title insurance • Entity formation • Settlement Tax assessment appeals

Larry Lefever Photography

Don Pearse Photography

Don Pearse Photography

Clients For Life warfelcc.com

Made with FlippingBook - professional solution for displaying marketing and sales documents online