Met places $150m apartment loan.MetLife Real Estate Investments has placed a $150 million, five-year, fixed rate first mortgage on The Palazzo East at Park La Brea La Brea (lə brā`ə), area, S Calif., formerly in Rancho La Brea. The La Brea asphalt pits, which yielded prehistoric animal and plant remains, are in Hancock Park, Los Angeles. in Los Angeles. The borrower is AIMCO AIMCO Apartment Investment Management Company (Columbus, OH) , the giant apartment REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). based in Denver. AIMCO purchased the luxury apartment property in early-2005 when it was 60% leased and has since increased the occupancy to almost 90%. The deal was brokered by Darren Fisk Fisk , James 1834-1872. American railroad financier and speculator who attempted in 1869 to corner the gold market with Jay Gould, leading to Black Friday, a day of nationwide financial panic. of Johnson Capital. Matt Mabray of MetLife's Los Angeles office led the transaction team for the lender. |
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