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| Dave Keller |
INDIANAPOLIS, IN – HFF announced it has arranged permanent
financing for The Boulevard at Oakley Station, a 302-unit, Class A
multi-housing community in Cincinnati, Ohio.
HFF
worked on behalf of the borrower, an affiliate of Flaherty & Collins
Properties, to secure the 10-year, 4.14 percent fixed-rate loan through Allianz
Real Estate of America, Inc. Loan
proceeds will retire an existing construction loan.
The
Boulevard at Oakley Station is located at 3225 Oakley Station Boulevard within
Oakley Station, a 74-acre mixed-use development that encompasses a planned
225,000 square feet of retail including the nation’s largest Kroger grocery
store, 350,000 square feet of office space and a 14-screen Cinemark movie
theater.
Completed in 2013, the property has enjoyed a brisk lease-up
and includes studio, one- and two-bedroom units ranging from 682 to 1,703
square feet.
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| The Boulevard at Oakley Station Apartments Cincinnati, OH |
Community amenities include a heated saltwater pool,
billiards room, grilling area, fire pit, bocce ball court, clubhouse, gaming
lounge, tanning bed, fitness center with yoga studio, and screening
lounge.
The HFF debt placement team representing the borrower was
led by senior managing director Dave Keller.
”Early this year, while Boulevard at Oakley was just
beginning its lease-up, Flaherty & Collins decided that they would like to
hedge their interest rate risk. Allianz
recognized the quality of the asset and location, and offered a competitive and
compelling forward-rate lock loan structure.
Flaherty & Collins did the rest by conducting a very successful
lease-up campaign,” said Keller.
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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