TODAY’S DEALS: HFF Arranges $5.8M Refinancing for 220-Unit Rental Community, and Other Transactions
- Apr 27, 2009
By Anuradha Kher, Online News EditorDallas–The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $5.8 million refinancing for Seatree Apartments (pictured), a 220-unit multifamily community in southeast Houston.HFF placed the 10-year, fixed-rate loan with Freddie Mac (Federal Home Loan Mortgage Corp.). The new loan allows Seatree Properties Ltd. to completely pay off the existing loan on the property.Seatree Apartments is located at 2800 Nasa Parkway approximately 20 miles southeast of downtown Houston via Interstate 45 in Seabrook. Renovated in 2006, the property is a garden-style complex that offers five floor plans averaging 750 sq. ft.Arbor Closes Two Fannie Mae DUS Small Loans Totaling $4,727,100 Marietta. Forest Park, Ga.–Arbor Commercial Funding LLC recently completed funding of two loans totaling $4,727,100 under the Fannie Mae DUS Small Loans product line. These loans include:$1,727,100 for Lauren Heights Apartments a 48-unit complex located in Marietta, Ga. The10-year loan amortizes on a 30-year schedule and carries a note rate of 5.95 percent. $3 million for Wyndham Hills Apartments, a 112-unit complex in Forest Park, Ga. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.95 percent.