HFF Arranges Financing for 224-Unit Acquisition
- Sep 14, 2011
Tampa, Fla.—Holliday Fenoglio Fowler LP has arranged $12.8 million in acquisition financing for Marbrisa Apartments, a 224-unit community located in Tampa, Fla. The firm worked from the borrower, Blue Rock Partners LLC, to secure the seven-year, fixed-rate loan through Freddie Mac.
“Freddie Mac offered the most aggressive terms that enabled Blue Rock to finance their acquisition of Marbrisa and enjoy a very low, fixed interest rate over the next several years,” says Elliot Thorne, director at HFF.
Marbrisa Apartments is located 4949 Marbrisa Drive in northwestern Tampa. The unit mix at the 98.6 percent leased community consists of one- and two-bedroom floor plans. Community amenities include a swimming pool, nature walk, playground and barbecue/picnic area.
Dome Equities acquires 208-unit property in Kansas
Lenexa, Kan.—Dome Equities LLC has acquired a 208-unit community in Lenexa, Kan., with a local operating partner. The property, Dunes at Falcon Valley, is a Class A community that was built in 2008.
The site is part of the Falcon Valley Planned Community, which also includes single family, retail, office and a public golf course. Dome’s investment represents a recapitalization of the developer’s ownership interest along with a modification on the existing loan.
Dome Equities currently manages a portfolio of multifamily and commercial assets totaling $729 million.
NorthMarq arranges $14.5M mortgage via MetLife
Lithia Springs, Ga.–Bruce Foster, senior vice president and managing director of NorthMarq Capital’s Atlanta Regional office, arranged first mortgage financing of $14.5 million for Tree Lodge Apartments, a 308-unit multifamily property located at 1600 Blairs Bridge Road in Lithia Springs, Ga.
Financing was based on a 10-year term with a 30-year amortization schedule and was arranged for the borrower, Strand Communities Inc., by NorthMarq through its relationship with MetLife.