HFF Lands Financing for Two Georgia Multifamily Assets
- Jan 13, 2017
Atlanta—HFF has announced that the company has arranged acquisition financing for two garden-style Class A multi-housing properties totaling 626 units in Georgia. The transaction included Axial Buckhead in Atlanta and TreePark Apartments in Gainesville, Ga.
Located at Piedmont Road NE in Atlanta’s Buckhead, Axial Buckhead Apartments features one- and two-bedroom units with granite countertops, slate GE appliances and faux wood flooring. Common area features include a clubhouse, swimming pool, fitness center and grilling areas. The community is close to Georgia State Route 400, I-85 and I-285, as well as Midtown and Downtown.
TreePark Apartments is located at TreePark Circle in the Gainesville, Ga., and offers one-, two- and three-bedroom units ranging between 780 and 1,638 square feet with gas fireplaces, individual storage units, garages and crown molding. Community amenities include a resort-style swimming pool, tennis court, fitness center, car care center and playground.
Managing Director Cortney Cole and Director Chip Sykes of HFF led the debt placement team representing borrower Ventera Realty. HFF placed two fixed-rate acquisition loans through two different lenders. The financing for Axial Buckhead has a maturity date of seven years with four years of interest-only payment followed by a 30-year amortization with a 3.15 percent fixed interest rate. The loan for ThreePark Apartments has a 10 year-term with seven years of interest-only payments and a 30-year amortization with 4.5 percent fixed interest rate.
Image courtesy of Ventera Living