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Monument Park Apartments, Fairfax, VA |
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| Whitaker Johnson |
DALLAS, TX – HFF announced today that it has arranged $86.8
million in acquisition financing for Monument Park, a 460-unit, Class A
multi-housing community in Fairfax, Virginia.
HFF worked on behalf of a private real estate fund advised
by Crow Holdings Capital Partners, L.L.C. to secure the 10-year, fixed-rate
loan through TIAA-CREF.
Monument Park is located at 4457 Oakdale Crescent Court in
suburban Washington, D.C.’s Fair Oaks submarket and provides immediate access
to key transportation routes in the area such as Interstate 66 and Lee Jackson
Memorial Highway.
Situated on 17.05 acres, the property is stabilized and
consists of one-, two- and three-bedroom units averaging 1,014 square feet
each. Community amenities include a
clubhouse, resort-style swimming pool, fitness center, business center, pub
room, media center, jogging trails and barbecue and picnic area.
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| Andy Scott |
HFF’s debt placement team representing the borrower was led
by senior managing director Whitaker Johnson and managing directors Andy
Scott and Cary Abod.
Crow
Holdings Capital Partners, L.L.C. (“CHCP”) was established in late 2010 in
response to new regulations and to expand the business of Crow Family Holdings,
which was formed in the early 1990’s to exclusively manage the assets of the
Trammell Crow Family.
Since 1998, CHCP
and CHCP-affiliated entities have managed a series of real estate private
equity funds that are designed to generate current income and benefit from the
capital appreciation of portfolio investments.
These six funds have had total equity commitments from partners of
approximately $3.6 billion, approximately $675 million of which was committed
by Crow Family Holdings.
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| Cary Abod |
TIAA-CREF (www.tiaa-cref.org) is a national financial services
organization with $481 billion in assets under management (as of 6/30/12) and
is the leading provider of retirement services in the academic, research,
medical and cultural fields.
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 | www.hfflp.com
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