Done Deals: HFF arranges $28.5 million refinancing for Class A multi-housing community in Jacksonville, FL area

Tuesday, June 25, 2013

HFF arranges $28.5 million refinancing for Class A multi-housing community in Jacksonville, FL area

Indigo Apartments, 13525 Bartram Park Boulevard, Jacksonville, FL

MIAMI, FL – HFF announced today that it has arranged a $28.5 million refinancing for Indigo Apartments, a 323-unit, Class A, garden-style multi-housing community in Jacksonville, Florida.

Elliott Throne

HFF worked exclusively on behalf of the borrower to secure the 10-year, fixed-rate loan through GE Real Estate. HFF will also service the loan.

The property is located at 13525 Bartram Park Boulevard on the southeast side of Jacksonville just off Interstate 95. Completed in 2007, the property is 97 percent occupied and includes one-, two- and three-bedroom units. Community amenities include a swimming pool, hot tub, fitness center, playground, clubhouse and business center.

“GE recognized the high quality of both the asset and sponsorship and stepped up to deliver a very quick and aggressive execution,” stated director Elliott Throne, who led the HFF team representing the borrower.