HFF Secures Financing for Dallas Community

HFF secured financing for another residential community in Dallas, Texas.
The Neighborhoods at Cypress Waters, Dallas

The Neighborhoods at Cypress Waters, Dallas

HFF has secured financing for Neighborhoods at Cypress Waters.

Senior managing director Trey Morsbach and director Jim Curtin led the HFF debt placement team representing the borrower, Billingsley Co., to secure a 15-year, fixed-rate loan through TIAA-CREF. Loan proceeds were used to replace an expiring construction loan.

Neighborhoods at Cypress Waters was completed in 2014. It is located at 3211 Scotch Creek Road within the 1,000-acre, waterfront Cypress Waters mixed-use development, which features multi-housing, office and retail in the central part of the Dallas-Fort Worth Metroplex. The 608-unit property consists of three neighborhoods—Parson’s Green, Scotch Creek and Sycamore Park—and offers a mix of flat- and townhome-style units totaling 489,486 rentable square feet.

The asset sits next to a 326-acre lake and features amenities such as two resort-style swimming pools; a fitness center; a community lodge with pool table, video game console and indoor/outdoor kitchen; parks and green spaces; dog stations; a children’s music park and playground; and art and sculptures throughout the grounds.

At the time of the sale, the property was 95 percent occupied.