TODAY’S DEALS: Freddie Mac, HFF Provide $38.7M in Financing for 612 Units, and Other Transactions

By Erika Schnitzer, Associate Editor Lincoln, Neb.—Freddie Mac recently purchased a $38.7 million mortgage from Holliday Fenoglio Fowler (HFF) to provide financing for The Links at Lincoln, a 51-building, 612-unit apartment community in Lincoln, Neb.The 10-year fixed-rate mortgage transaction utilized Freddie Mac Capital Markets Execution SM Pilot. The borrower was Fayetteville, Ark.-based Lindsey Management Company.The Links at Lincoln, which was constructed in 2007, features a clubhouse, pool, fitness center and business center.The Arker Companies Closes $24.4 Financing for 83-Unit Mixed-Use CommunityNew York—The Arker Companies has closed the financing of $24.4 million for Hewitt House Apartments, an 83-unit, 75,300-sq.-ft development that will include 11,500 sq. ft. of retail space.The New York City Housing Development Corporation is providing $11 million in tax-exempt bonds and $4.565 million in subordinate financing. The development will also receive $7.4 million in tax credit equity from Wachovia Securities, and Freddie Mac, through MMA Financial, will provide credit enhancement for a $4.1 million permanent mortgage. Bank of America will provide a construction letter of credit for $11.1 million and a $2.16 million loan to finance the property’s retail portion.The residences will be set aside for those earning 60 percent of the area median income, and 17 units will be reserved for formerly homeless individuals and families. Construction is expected to begin this month and be complete by the fall of 2010.Sperry Van Ness Completes Sale of 72 Units for $7.53MLos Angeles—Sperry Van Ness has arranged the sale of the Val D’Amour, a 72-unit apartment community for $7.53 million, or approximately $104,549 per unit.Brent Sprenkle of Sperry Van Ness represented the buyer, a private investor, and the seller, Los Angeles-based Sebren Development. The community sold with a cap rate of 6.8 percent.The Val D’Amour is a six-story art deco-inspired building constructed in 1929 and is a registered historic landmark in the city of Los Angeles. It offers efficiency units, studios, and one-bedroom residences