HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $5.0 million refinancing for Deerbrook Garden, (top right photo) a 162-unit multifamily community in Humble, Texas.HFF managing director Jeff Knowles (bottom left photo) worked exclusively on behalf of the borrower, Deerbrook Garden Apartments Ltd, to secure the 5.83% fixed-rate Fannie Mae loan with Wachovia Multifamily Capital, Inc.
The financing replaces an existing CMBS loan that was used to purchase the property in 2004.
Deerbrook Garden is located at 1230 FM 1960 East, in close proximity to Deerbrook Mall and Bush Intercontinental Airport approximately 18 miles northeast of Houston’s central business district.
Completed in 1983, the property includes one- and two-bedroom units with five different floor plans that feature a washer/dryer in every unit, wood-burning fireplaces and valet trash service. The property is managed by Houston-based Asset Plus Companies and is 100% occupied
Contacts:
B. Jeffrey Knowles, HFF Managing Director, (713) 852-3500 knowles@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500 j krmurphy@hfflp.com
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