HFF Places $18.7M Permanent Loan with Freddie Mac for Corpus Christi, TX Multifamily Community

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has placed an $18.7 million permanent loan with Freddie Mac for Reserve at Saratoga,(photo above) a Class A multifamily community in Corpus Christi, Texas.

Managing director Andy Scott (top right photo) worked exclusively on behalf of Peek Howe Real Estate to arrange the seven-year, fixed-rate financing. Founded in 1993, Peek-Howe Real Estate specializes in the development, acquisition, disposition and management of commercial real estate properties.

The Reserve at Saratoga is located at 5701 Saratoga Boulevard close to the Corpus Christi Naval Air Station and South Padre Island, as well as several new medical complexes, a new high-end retail neighborhood, and the Corpus Christi Country Club and golf course.

Completed in 2006, the property is 98% occupied and has 274 units that have an average unit size of 834 square feet. Community amenities include a luxury clubhouse, indoor basketball court and a “resort-style” swimming pool.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.

CONTACTS:

J. Andrew Scott, HFF Managing Director, 214 265 0880, ascott@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing 617 338 0990, lmcdowell@hfflp.com