Holliday Fenoglio Fowler Arranges $2.95 Million Financing for Luxury Town Homes in Santa Monica,...

Business Editors

LOS ANGELES--(BUSINESS WIRE)--Nov. 4, 2002

The Los Angeles office of Holliday Fenoglio Fowler, L.P., the nation's leading commercial mortgage banking firm, has arranged a $2.95 million financing for 838 19th Street, a five-unit, luxury town home community in

Senior Director Jerry Wise arranged the construction financing on behalf of N&S Development, LLC through Builders Bank, a bank/thrift lender.

Currently under construction and slated for completion at the end of 2003, individual unit prices are expected to fetch between $800,000 and $950,000. 838 19th Street is located just minutes from the Santa Monica pier and in close proximity to Interstate 405. It is also just blocks from Montana Avenue, which is home to large amounts of boutique and national retailers.

Each townhome will have hardwood flooring, granite or marble tile counters, fireplaces, private patios and well-apportioned kitchens.

"Situated in the heart of the high-end West Side, Santa Monica is one of the most desirable residential communities in the Los Angeles area," said Wise. The market is characterized by high absorption in both the single-family and multifamily market segments."

With 19 offices nationwide, Holliday Fenoglio Fowler is one of the country's largest commercial real estate capital intermediaries. Since 1998, the firm has capitalized debt, equity/structured finance and investment sales transactions in excess of $54 billion.