HFF Secures $46.73M 30-Year, Fixed-Rate Permanent Loan from M&T Bank

HFF announces it has secured $46.73 million in financing for the recently completed The Trails at Timberline; and BMC Capital provides a $4.8 million loan for a Houston property.

Trails at TimberlineDenver–HFF announced that it has secured $46.73 million in financing for the recently completed The Trails at Timberline, a 314-unit luxury lifestyle apartment community developed by McWhinney  in Fort Collins, Colo.

Working on behalf of DTMF Investments LLC, an affiliate of McWhinney, HFF placed the 30-year, 4.42 percent fixed-rate Fannie Mae loan with M&T Realty Capital Corp. The loan has a two-year, interest-only period, and is taking out a construction loan on the property.

The Trails at Timberline is situated on a 16.09-acre site at 2451 S. Timberline Road, close to major Fort Collins and Front Range employers, Colorado State University, Old Town Fort Collins, Foothills Mall and the Front Range Village shopping center. Completed in 2014, Trails at Timberline has 12 residential buildings with studio through three-bedroom units averaging 896 square feet each. Community amenities include a resort-style pool, two-lane bowling alley, fitness center, 3D theatre room, gourmet community kitchen, outdoor barbecue/fire pit area and HD golf simulator. The property also promotes a strong sense of community with weekly event programming including yoga classes, themed happy hours and special holiday gatherings. The Trails at Timberline is 98 percent occupied.

The HFF debt placement team representing the borrower was led by Senior Managing Director Eric Tupler, Associate Director Brock Yaffe and Real Estate Analyst Matt Gangaware.

“HFF and M & T Realty Capital Corp. provided DTMF Investments LLC the most competitive financing terms available in the market in a streamlined and timely manner reflecting The Trails at Timberline’s superb attributes and operating performance,” saysMcWhinney, vice president of Finance Joshua Kane.

McWhinney, an experienced Colorado-based real estate investment, management and development company, has developed more than 6million square feet of vertical commercial and mixed-use properties, planned and developed more than 6,000 acres in several master-planned communities and developed more than 1,700 multifamily apartment homes throughout the Rocky Mountain region and on the West Coast. Notable McWhinney projects include the 3,000-acre Centerra master-planned community in Loveland, Colorado; the 935-acre mixed-use North Park community in Broomfield, Colorado; the redevelopment of Denver Union Station; and Great Wolf Lodge currently under construction in Southern California.

BMC Capital provides a $4.8M loan for Houston property

Dallas—Keith Van Arsdale of BMC Capital’s Dallas office has arranged for $4.8 million cash out refinance loan for a multifamily property located in Houston.

The non-recourse loan featured a 65 percent LTV, 10-year fixed rate at 4.40 percent and a 30-year amortization. The loan was arranged through one of BMC Capital’s agency relationships.

BMC Capital is the leading lender for small-balance multifamily and commercial loans in the country and anticipates originating at least 150 such transactions in 2015.