Saturday, May 21, 2016

HFF arranges financing totaling $37.6 million on behalf of Beachwold Residential for apartment communities in Florida and Texas

Mona Carlton
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured financing totaling $37.6 million on behalf of Beachwold Residential for the acquisition of Verandahs at Hunt Club in Apopka, Florida, and Pecan Creek in Bedford, Texas.

HFF worked exclusively on behalf of the borrower, Beachwold Residential (Beachwold), to place three-year, floating-rate acquisition loans with NXT Capital (NXT).  Additionally, HFF represented the seller in sale of Pecan Creek to Beachwold for an undisclosed amount.

Verandahs at Hunt Club is located at 3000 Foxhill Circle near Route 436, Highway 441 and Interstate 4 in Apopka, which is approximately 18 miles northwest of downtown Orlando in Central Florida’s Orange County. 

Situated on a wooded 21-acre site, the property has 21 two-story residential buildings encompassing 210 one-, two- and three-bedroom units averaging 1,185 square feet each.  Community amenities include a resort-style swimming pool with sun deck, spa, playground, two tennis courts, putting green, dog park, 24-hour fitness center and car care center.

Elliott Throne
Pecan Creek is located at 2500 Central Drive in Bedford, Texas, a suburban city in the Hurst-Euless-Bedford submarket approximately seven miles east of the Dallas/Fort Worth International Airport.  The community is 98.5 percent leased and has 272 one- and two-bedroom units.  Community amenities include two swimming pools, picnic areas and two laundry care centers.

HFF’s debt placement team representing Beachwold was led by managing director Elliott Throne along with senior managing director Mona Carlton and associate director Michael Cosby.

The HFF investment sales team representing the seller in the Pecan Creek transaction was led by directors Blair Lang and Rob Key.

“Beachwold continues to find great assets in the Florida and Texas markets that play really well into their value-add strategy of acquiring solid properties with significant upside,” Throne said.  “NXT’s aggressive loan terms will further enable Beachwold to execute their business plan as they have done numerous times during the last few years.”

 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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