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
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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
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