HFF secures $8M refinancing for Corey Place Apartments in Dallas/Fort Worth

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged an $8 million refinancing for Corey Place Apartments, (top left photo) a 276-unit multifamily community in Dallas/Fort Worth, Texas.

Working exclusively on behalf of Granite Redevelopment, LLC, HFF associate director Travis Anderson placed the 10-year, 5.76% fixed-rate loan with Wachovia Multifamily Capital, Inc. through Fannie Mae’s DUS Program.

Loan proceeds are refinancing an existing acquisition rehab loan.

Corey Place Apartments is located at 602 West Pioneer Parkway approximately 12 miles west of downtown Dallas via Interstate 30 in Grand Prairie. The property was renovated in 2008 and is currently 95% occupied.

Granite Redevelopment, LLC currently owns approximately 2,500 units and has been acquiring and rehabilitating multifamily properties for 14 years.

They are actively pursuing distressed multifamily assets in the Dallas, San Antonio and Austin markets.

CONTACTS:
Travis Anderson, HFF Associate Director, (214) 265-0880, tanderson@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com