HFF Closes Sale, Arranges Financing for Dallas Community
- Feb 24, 2017
By Adina Marcut
Dallas—HFF arranged the financing and closed the sale of The Villages of Addison, a 264-unit, garden-style community in Dallas. HFF represented The Connor Group, which sold the property to Advenir Inc. for an undisclosed amount. This asset is Advenir’s first acquisition funded by a $100 million revolving credit facility that HFF recently secured on its behalf.
The community offers a mix of one- and two-bedroom units and features amenities such as a fitness and a business center, two swimming pools, a spa, a clubhouse and a total of 491 parking spaces, according to Yardi Matrix. Located at 17671 Addison Road, The Villages of Addison is less than two miles south of the President George Bush Turnpike interchange in Far North Dallas. Other nearby amenities include the Galleria Dallas, Addison Circle, Bent Tree Country Club and the University of Texas at Dallas campus.
The HFF investment sales team representing the seller was led by Roberto Casas and Bill Miller, senior managing directors, and Greg Toro and Rob Key, directors. The HFF debt placement team representing Advenir was led by Josh Simon, managing director, and Eric Tupler and Andy Scott, senior managing directors.
Image courtesy of Yardi Matrix