Wednesday, November 13, 2013

HFF arranges $13 million refinancing for WillowBrooke Apartments in Lakeland, FL


WillowBrooke Apartments, 1100 Oakbridge Parkway, Lakeland, FL

MIAMI, FL – HFF announced today that it has arranged a $13 million refinancing for WillowBrooke Apartments, a 300-unit, garden-style multi-housing community in Lakeland, Florida.

Todd Adams
HFF worked exclusively on behalf of the owner to secure the 10-year, 4.31 percent, fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

WillowBrooke Apartment Homes is located at 1100 Oakbridge Parkway across from the 650,000-square-foot open-air mall, Lakeside Village, and is adjacent to a Target and Publix-anchored shopping center.

 The property is 98 percent leased and includes one-, two- and three-bedroom units averaging 980 square feet each.  Community amenities include a 24-hour fitness center, tennis courts, basketball court, swimming pool and walking/biking trail.

The debt placement team representing the borrower was led by director Elliott Throne and associate director Todd Adams from HFF’s Miami office along with local market support from director Matt Mitchell in HFF’s Tampa office.

Matt Mitchell
Cherishome Living (formerly McArthur Properties) has a 35-year track record of accomplishment that includes multi-housing acquisition, renovation and management and additional commercial real estate experience.  The company’s current portfolio of multi-housing assets includes more than 4,000 units in Florida and Toronto, Canada.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 | www.hfflp.com

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