Saturday, October 17, 2015

$17.04 million financing for garden-style apartments in South Florida’s Broward County arranged by HFF

Coral Falls Apartments, 2801 NW 91st Street, Coral Springs, FL

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 |

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