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| Thornton Park, 8450 Gate Parkway West, Southside Jacksonville, FL |
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| Elliott Throne |
MIAMI, FL, July 8, 2015 –
Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $50
million in acquisition financing for Thornton
Park, a 474-unit, Class A garden-style apartment community in
Jacksonville’s Southside submarket.
HFF worked on behalf of
Epoch Residential to secure the three-year, floating-rate loan through Colony
Mortgage Capital.
Epoch Residential
originally developed the property and proceeds from this transaction were used
to purchase it outright. The acquisition
represents Epoch’s first in their 45-year history.
Completed in 2008,
Thornton Park features 16 one-, two- and three-bedroom flat- and townhome-style
floor plans ranging between 785 and 1,604 square feet.
Community amenities include two resort-style
swimming pools and spas, picnic area with barbecue grills, playground, indoor
basketball/sport court, fitness center, clubhouse, library, billiards room,
sports bar and detached garages.
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| Brett Moss |
Thornton Park is located at 8450 Gate Parkway West in the core of Jacksonville’s largest suburban employment hub, Deerwood Park.
The property is approximately nine miles
southeast of downtown Jacksonville and is near St. John’s Town Center, an
upscale outdoor lifestyle mall.
The HFF debt placement
team representing the borrower was led by Elliott
Throne and Brett Moss.
“Epoch Residential was
able to obtain a favorable loan that allowed them the ability to acquire a
property they knew intimately and the flexibility to make further enhancements
to the asset,” stated Throne.
Moss continued, “The
improvements Epoch plans to make as owner will allow the property to be even
more competitive with the area’s newest product that has been able to achieve
some of the highest rents in the Jacksonville metro area.”
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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