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| Hainesway Apartments, 1314 Atlas Street Rapid City, SD |
DENVER, CO – HFF announced today that it has arranged a
combined $20 million refinancing for two multi-housing communities: Hinton
Heights Rental Homes in Cottage Grove, Minnesota, and Hainesway
Apartments in Rapid City, South Dakota.
HFF
worked on behalf of Cottage Grove Investors and Hainesway Apartments LLC to
secure the 10-year, fixed-rate loans through a delegated Fannie Mae underwriter/servicer.
Hinton Heights Rental Homes is located at 7750 Hinton Avenue South in
the Saint Paul, Minnesota, suburb of Cottage Grove near the juncture of the
Mississippi and St. Croix Rivers. The
249-unit community offers one-, two- and three-bedroom townhome-style
units. Residents enjoy amenities such
as private entries, in-unit washer/dryers, walk-in closets, garage parking, an
indoor pool, fitness center, party room and dog park.
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| Hinton Heights Rental Homes 7750 Hinton Avenue South Cottage Grove, MN |
Hainesway is located at 1314 Atlas Street in Rapid City,
South Dakota, less than 25 minutes from Mount Rushmore National Memorial and
less than 15 minutes from the entrance to the Black Hills National Forest.
The 244-unit community offers affordable
living close to shopping, dining and easy interstate access.
The community has many amenities including
an indoor swimming pool, hot tub, sauna, fitness center, basketball court,
volleyball court, dog park, party room and business center.
The HFF team representing the borrower was led by associate
director Brock Yaffe along with real estate analysts Kristian
Lichtenfels and Matt Gangaware.
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| Brock Yaffe |
According to a representative of both Cottage Grove and
Hainesway, “Our firm recently closed two multifamily loans with HFF totaling
$20 million. When I was referred to HFF,
I was assured they would ‘cover the market’ and cover they did.
"HFF sent the loan request to an excess of 25
lenders and produced quotes from a multitude of sources – including life
companies, Fannie Mae and Freddie Mac – assuring that we received the absolute
best terms available in the market.
" HFF
efficiently managed the process from packaging, marketing, coordinating third
party reports, early rate lock to the successful closings.”
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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