HFF Secures $50M Durham Acquisition Loan

The company debt placement team working on behalf of borrower Lantower Residential included Senior Directors Jamie Leachman and Roger Edwards.

After providing a $30 million construction loan for a mixed-use community in Newton, Mass., HFF has arranged a $49.6 million acquisition loan for BullHouse, a 305-unit community in downtown Durham, N.C. The company worked on behalf of Lantower Residential. New York Life Real Estate Investors provided the loan. Senior Directors Jamie Leachman and Roger Edwards were part of the debt placement team that represented the borrower.

Completed this year, the five-story building offers a mix of studios, one-, two- and three-bedroom luxury units with stainless steel appliances, walk-in closets, washer/dryer, hardwood-style flooring and kitchens with white quartz countertops.

Located at 504 E. Pettigrew St., adjacent to the Durham Freeway, the pet-friendly community includes common-area amenities such as:

  • spa room
  • doggie spa
  • 24-hour fitness center
  • yoga room
  • gather room
  • salt water heated pool
  • outdoor kitchen with grills
  • huddle room
  • rooftop terrace

Other nearby points of interest include Durham Performing Arts Center, American Tobacco Campus and Durham Bulls Athletic Park.

“We are seeing more and more activity in the prestabilized multi-housing space both with acquisitions and refinancing,” Leachman said in a prepared statement.

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