TODAY’S DEALS: HFF Secures Financing Totaling Nearly $50M on Behalf of TCR, and Other Transactions

By Anuradha Kher, Online News EditorHouston, Texas–HFF (Holliday Fenoglio Fowler, L.P.) has secured nearly $50 million in financing on behalf of Trammell Crow Residential for Alexan Woods and Alexan Main Street, two Class A multifamily complexes in Houston, Texas. Working on behalf of the borrower, HFF placed two, seven-year adjustable-rate loans with Freddie Mac (Federal Home Loan Mortgage Corp.). A $22.16 million loan was secured for Alexan Woods and a $27.63 million loan was arranged for Alexan Main Street. Proceeds will be used to retire the existing construction loans, while recapitalizing both assets with assumable, non-recourse financing and flexible prepayment structures.  Alexan Woods is located in The Woodlands, approximately 25 miles north of downtown Houston. Completed in 2007, the property has 280 units with 99 percent of the units currently occupied. Community amenities include a swimming pool, clubhouse, business center, fitness center and covered parking.  Currently 98 percent occupied, Alexan Main Street was also completed in 2007 and features 286 one- and two-bedroom units, averaging 983 square feet each. Residents have access to a resort-style pool, business center and athletic club. Located at 8333 Braesmain Dr., the property is located at Braesmain Drive and South Main Street in Houston, adjacent to the Texas Medical Center.Arbor Closes $2.8M Fannie Mae DUS Small LoanMattapan, Mass.–Arbor Commercial Funding LLC recently completed funding of a $2.8 million loan under the Fannie Mae DUS Small Loan product line for the 32-unit complex known as River Street Apartments in Mattapan, Mass.   The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.92 percent.