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| Coral Falls Apartments, 2801 NW 91st Street, Coral Springs, FL |
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| Elliott Throne |
MIAMI, FL – October 12, 2015 – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged $17.04 million in
financing for Coral Falls, a 190-unit, garden-style multi-housing community in
Coral Springs, Florida.
HFF worked on behalf of CF
Partners, Ltd. and Iron River Management, LLC to secure the seven-year,
floating-rate, interest only loan through Freddie Mac’s (Federal Home Loan
Mortgage Corporation) CME Program.
The
securitized loan, which has a starting rate of 2.32 percent, will be serviced
by HFF through its Freddie Mac Program Plus® Seller/Servicer program. Loan proceeds are being used to continue
renovations to the property.
Coral Falls is located at
2801 NW 91st Street in Coral Springs providing access to Boca Raton to the north
and Fort Lauderdale and Miami to the south.
The 97.9-percent-leased asset has a mix of one- and two-bedroom floor
plans averaging 1,029 square feet each.
Community amenities include a swimming pool with sundeck, brand new
fitness center, picnic areas, tennis court, playground and car wash station.
The HFF debt placement
team representing the borrower was led by managing directors Elliott Throne and Josh Simon.
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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