IRVINE, CA – HFF announced today that it has secured $220 million in financing for eight multi-housing properties in Florida and Nevada on behalf of Olen Properties Corporation.
HFF worked exclusively on behalf of the borrower to secure eight separate fixed-rate loans through M&T Realty Capital Corporation. The loans were sold through M&T’s Fannie Mae Program. The 10-year terms provided Olen with a reduced cost of capital and additional liquidity.
The properties total 2,468 units and have an average occupancy of in excess of 90%. Individual property details are below:
Property City, State # of Units
Club Lake Pointe Coral Springs, FL 240 Units
Sanctuary Cove Palm Beach, FL 420 Units
Weston Place Weston, FL 372 Units
Red Rock Villas Summerlin, NV 192 Units
Durango North & South Las Vegas, NV 544 Units
Falling Water Las Vegas, NV 288 Units
Hidden Cove Las Vegas, NV 212 Units
Horizon Ridge Henderson, NV 200 Units
The HFF team representing Olen Properties Corporation was led by senior managing director Don Curtis (top right photo). Also involved was Elliott Throne (bottom left photo) from the Miami office of HFF, as well as Greg Brown and Brian Torp from the Orange County office.
For over 30 plus years, Olen Properties Corporation has dedicated itself to creating distinctive commercial and residential communities from coast-to-coast. Olen’s portfolio boasts more than five million square feet of premier office and industrial projects ideally located throughout Orange County, California. Olen’s multifamily portfolio of more than 10,000 units in 36 plus residential communities are primarily located in the Las Vegas and South Florida area.
Contacts:
Donald J. Curtis, HFF Senior Managing Director, (949) 253-8800,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500
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