 |
| Mona Carlton |
DALLAS, TX, June 23, 2016
– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged
financing totaling $46.2 million for Summer
Meadows and Summers Crossing, two garden-style multi-housing communities
totaling 683 units in Plano, Texas.
HFF worked exclusively on
behalf of the borrower, an affiliate of Milestone Apartments Real Estate
Investment Trust (Milestone), to place two 10-year, fixed-rate loans with
Lincoln Financial. Loan proceeds were
used to refinance existing debt on the properties.
Summer Meadows is situated
on 21.62 acres at the southeast corner of Spring Creek Parkway and Ohio Drive,
just east of the $2 billion Legacy West mixed-use development.
Situated on 15.71 acres,
Summers Crossing is located at the corner of Preston Road and Dexter Drive to
the north of the President George Bush Turnpike. Both properties provide convenient access
around the Dallas-Fort Worth Metroplex via major transportation arteries,
including State Highway 121, Dallas North Tollway, President George Bush
Turnpike and U.S. Highway 75.
 |
| Michael Cosby |
Both garden-style assets offer a mix of one-
and two-bedroom floor plans with a combined occupancy of approximately 95
percent.
In addition to a prime location
in one of Greater Dallas’ best school districts, the communities offer
amenities such as clubhouses, swimming pools, hot tubs, fitness centers and
covered parking.
HFF’s debt placement team
representing Milestone was led by senior managing director Mona Carlton and associate director Michael Cosby.
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
No comments:
Post a Comment