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| Elliott Throne |
MIAMI, FL – HFF announced today that it has arranged an $8.5
million refinancing for The Park at Chesterfield, a 244-unit,
garden-style multi-housing community in Tampa, Florida.
HFF worked exclusively on behalf of the borrower, Blue Rock
Partners, LLC, to secure the seven-year, 2.48 percent floating-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.
The Park at Chesterfield is located at 5039 Chalet Court in
northeast Tampa proximate to Busch Gardens Tampa and Adventure Island
waterpark.
Renovated in 2011, the
property is 93 percent leased.
Community amenities include two newly-renovated swimming pools, fitness
center, playground, clubhouse and business center.
HFF’s debt placement team representing the borrower was led
by managing director Elliott Throne and associate director Todd Adams
from the firm’s Miami office as well as director Michael Tabor from the
firm’s Tampa office.
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| Todd Adams |
“Blue Rock, like many borrowers today, strategically took
advantage of the aggressive financing market that is allowing deals to secure
longer terms at very low rates with flexible prepayment options,” stated
Throne.
“Lenders are actively trying to capture new financings and
apartment owners continue to benefit from the extremely favorable capital
market we are experiencing.
" Even if a
borrower has a loan that is maturing in the next 12 to 18 months, it’s
absolutely worth exploring the economic benefits of recapitalizing the loan
today to lock in great long-term financing,” continued Throne.
Blue Rock Partners, LLC is led by co-managing partners Randy
X. Ferreira and Reuven Oded, and owns/manages 6,425 multi-housing units in
Central Florida.
The company is
currently focused on building its portfolio through strategic acquisitions of
value-add apartment properties with significant upside potential and has
purchased more than 2,500 units in slightly more than a one-year timespan. Based in Tampa, Blue Rock Partners, LLC also
provides third party accounting and management services.
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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