Irvine Company landed a $157.2 million refinancing loan for a luxury apartment complex in Los Angeles’ Playa Vista. Capital One originated the Fannie Mae loan for Villas at Playa Vista-Montecito, a 309-unit community at 12855 Runway Road in Playa Vista, Multi-Housing News reported. The debt replaces a previous $136 million Fannie Mae loan from PGIM, representing an increase of $21.2 million in financing. The property opened in 2016 and sits within the 460-acre Playa Vista master-planned development that transformed the former headquarters of Howard Hughes’ aerospace firm Hughes Aircraft Company into a mixed-use neighborhood. The development now includes 6,046 residential […]
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