Two Thousand Oaks Apartments to Be Spruced Up

Two Thousand Oaks apartment complexes will undergo improvements thanks to a $130 million loan. Institutional investors in a joint venture borrowed $129.8 million under a five-year, floating-rate loan with a national bank to pay off debt and finance future capital improvements for The Knolls and Westlake Canyon complexes at 2544 Vista Wood Circle and 2338 Fountain Crest Lane, respectively, according to Holliday Fenoglio Fowler LP, a Newport Beach real estate services provider that arranged the financing. Combined, the two complexes have 672 units. J.P. Morgan Asset Management and Sares-Regis Group advised the joint venture on the deal, according to HFF. The two complexes are owned by New York-based JPMorgan Chase & Co. and managed by Sares-Regis, according to real estate database firm CoStar Group Inc. HFF Executive Managing Director Mike Tepedino, Senior Managing Director Kevin MacKenzie, Managing Director Charles Halladay and Director Brian Torp arranged the financing deal.