Friday, August 19, 2016

HFF arranges $65 million acquisition financing for two Class A multi-housing properties in Austin, TX

Cielo Apartments, 3499-3501 Ranch Road 620 South, West Austin, TX

DALLAS, T -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $65 million in financing for the acquisition of Cielo and Madrone, two Class A, garden-style multi-housing communities totaling 554 units in west Austin, Texas.

Campbell Roche
HFF worked exclusively on behalf of Toronto, Canada-based Starlight Investments Ltd., to place the seven-year, floating-rate loan with a national bank.  The newly developed properties were completing lease-up and nearly stabilized when the financing closed.

The adjacent properties are located at 3499-3501 Ranch Road 620 South approximately seven miles southwest of Lake Travis.  Completed in 2014, Cielo has 28 three-story buildings situated on 38 acres that house 326 one-, two-, and three-bedroom units 

The Madrone is situated on 40 acres directly adjacent to Cielo and was completed in 2015.  The eight-building property has 228 one-, two- and three-bedroom units. 

Both properties include amenities such as resort-style swimming pools with sun decks, outdoor lounges, grilling stations, fire pits, state-of-the-art fitness centers with yoga/spin studios, clubhouses with Wi-Fi, lounges with televisions, game rooms, full entertaining kitchens, business centers and detached garages. 

The HFF debt placement team representing the borrower was led by senior managing director Matt Kafka and director Campbell Roche.

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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