Wednesday, February 24, 2016

Financing for 480-unit apartment community in Houston, TX arranged by HFF

Cortney Cole
DENVER, CO – Feb. 24, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged acquisition financing for Broadstone Stone Park, a 480-unit, garden-style apartment community in Houston, Texas.

HFF worked exclusively on behalf of the borrower, Advenir, Inc., to secure the seven-year, 2.82 percent, floating-rate loan with three years of interest only through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.

 The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.  Advenir will rebrand the property as Advenir@Stone Park and will implement a capital improvement program to achieve greater rental premiums.

Broadstone Stone Park is situated on 21.59 acres at 6160 East Sam Houston Parkway North, approximately seven miles northwest of the Port of Houston and 16 miles northeast of downtown. 

The two-phased, controlled-access community has 17 residential buildings totaling 414,564 rentable square feet and two separate amenity packages for each phase including resort-style swimming pools; state-of-the-art fitness centers; barbecue and picnic areas; clubhouses with full kitchens, billiards tables and shuffleboards; business centers; and detached garages and carports.           

The HFF debt placement team representing Advenir, Inc. was led by Josh Simon, Eric Tupler and Cortney Cole.

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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