DALLAS, TX – HFF announced today that it has closed the sale of and arranged financing for Ranch at Pinnacle Point (top left photo), a 392-unit, Class A multi-housing community in Rogers, Arkansas.
HFF marketed the property on behalf of the seller, Castle Hill Partners. Hayman Woods purchased Ranch at Pinnacle Point free and clear of existing debt. M&T (FNMA) provided the $21.2 million, seven-year fixed-rate loan, also arranged by HFF.
This is the second transaction HFF has sold to Hayman Woods and financed through M&T (FNMA) in the second half of 2011. In August, Hayman Woods purchased Villas at Zaragosa, a 216-unit Class A multi-housing community located in El Paso, Texas.
The Ranch at Pinnacle Point is located at 5900 Stoney Brook Road close to Interstate 540, Pinnacle Hills Promenade and major employers including Wal-Mart, Tyson Foods and J.B. Hunt Transportation in northwest Arkansas.
Completed in 2007, the property has 16 buildings with one-, two- and three-bedroom units averaging 924 square feet each.
Community amenities include a swimming pool, game room, business center, 22-person movie theatre, jogging path, and attached and detached garages. The Ranch at Pinnacle Point is 93.4 percent occupied.The HFF investment sales team representing Castle Hill Partners was led by managing director Roberto Casas (top right photo).
HFF’s debt placement team representing Hayman Woods was led by managing director Brian Carlton (lower left photo) and senior managing director Trey Morsbach (lower right photo)
Hayman Woods, LLC is an integrated real estate company focused on commercial and residential opportunities in the U.S. The firm is an SEC registered investment advisor and manages discretionary private equity funds, as well as discrete investment vehicles on behalf of institutions and high-net worth investors.
The firm seeks to make opportunistic equity and debt investments on behalf of its investors in projects where it can leverage the acquisition, asset management, development, finance, and sales experience of the firm.
Contacts:
ROBERTO CASAS BRIAN CARLTON
HFF Managing Director HFF Managing Director
(214) 265-0880 (214) 265-0880
KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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