San Diego Business Journal

National City Apartments Get $23.5 Million in Refinancing

By Lou Hirsh Thursday, March 6, 2014

The San Diego office of commercial real estate services company HFF Inc. has secured $23.5 million in refinancing for two apartment communities totaling 141 units in National City.

Company officials said HFF worked on behalf of the borrowers, PCD Capital Group and Birge & Held Asset Management, to arrange two fixed-rate loans through Opus Bank.

A $9.3 million fixed-rate loan was secured for the 60-unit Centro Apartments at 45 E. 12th St., and a $14.2 million fixed-rate loan was placed on the 81-unit Harborview Apartments, at 819 D. Ave. The new loans carry 10-year terms.

HFF director Zach Koucos led the HFF team representing the borrower.