Wednesday, January 30, 2013

HFF arranges $19.6 million financing for student housing community at University of Alabama in Tuscaloosa

The Bluffs at Waterworks Landing
Student Housing, Tuscaloosa, AL
DALLAS, TX – HFF announced it has arranged $19.6 million in financing for The Bluff at Waterworks Landing, a newly-constructed, 162-unit, 308-bed, off-campus student housing community serving the University of Alabama.

Working exclusively on behalf of Ellis-Trick Multifamily, HFF placed the 10-year, 3.77 percent fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  

The loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  Loan proceeds were used to refinance the original construction debt on the property.

Adam Herrin
The HFF team representing the borrower was led by associate director Adam Herrin.

The Bluff at Waterworks Landing is located less than one mile from campus at 534 7th Avenue Northeast near the intersection of Jack Warner Parkway Northeast and McFarland Boulevard East. 

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

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