HFF Arranges Refinancing for Austin Asset
- Nov 16, 2011
Austin, Texas—Holliday Fenoglio Fowler LP has arranged a refinancing for Waters Edge Apartments, a 184-unit community located in northwest Austin, Texas. The firm worked for Venterra Realty to place a seven-year, adjustable-rate, securitized loan through Freddie Mac. Proceeds are refinancing an existing financing on the property that was arranged by HFF in 2006.
Waters Edge Apartments is located at 12330 Metric Boulevard just west of Highway 35. The community consists of seven buildings situated on 6.62 acres. Community amenities include a two-story fitness center, a sports court, swimming pool, business center and entertainment room. The property is currently 95 percent occupied.
Venterra manages a portfolio of multifamily real estate valued at over $850 million that generates gross annual income in excess of $125 million.
NorthMarq arranges $27.1M Million in Combined Mortgages for Four Multifamily Properties
Charlotte, N.C.–Bill Matone, senior vice president and managing director of NorthMarq Capital’s Charlotte Regional office, arranged combined first mortgage refinancings in the amount of $27.1 million for four multifamily properties containing a combined total of 782 units.
The Cloisters of Mt. Holly contains 256 units and was financed at $11.8 million. Riverfront Apartment Homes contains 72 units and was financed at $2.8 million. Both of these multifamily properties are located in Mount Holly, N.C. Covington Glen Apartment Homes, located in Decatur, Ga., contains 254 units and was financed at $5 million. Bridlewood Apartment Homes, located in Conyers, Ga., contains 200 units and was financed at $7.5 million.
Financing for these transactions was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrowers by NorthMarq through its Seller-Servicer relationship with Freddie Mac.
Charles Dunn completes 50-unit sale in Santa Monica
Santa Monica, Calif.—Charles Dunn Company has completed the sale of a 50-unit community located at 123 California Ave in Sana Monica. Kimberly Roberts Stepp of the firm’s West Los Angeles office represented the seller, Petrikas Family LP from Riverside, Calif. Hamid Soroudi, also from the West Los Angeles Office, represented the buyer, Xenon Investments.
The 1959 built asset was 100 percent leased at the time of sale and closed at just above a 4 percent cap rate. Community amenities include controlled access, a courtyard, underground parking and a pool.