Saturday, October 22, 2016

HFF secures $43 million financing for mid-rise apartment community in Dallas, TX

John Brownlee
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $43 million in financing for Alexan Fairmount, a 368-unit, Class AA mid-rise apartment community in Dallas’ Oak Lawn neighborhood.
HFF worked on behalf of the borrower, Pure Multi-Family REIT LP, to place the 12-year, fixed-rate loan with Cigna Investments.  Loan proceeds were used to acquire the property.

Alexan Fairmount is situated one block east of the Dallas North Tollway adjacent to the Maple Avenue restaurant district.  

Positioned near Dallas’ largest employment and entertainment destinations in Uptown, the Medical District, Old Parkland Campus and the central business district, the property is surrounded by the city’s top retail, dining, cultural and nightlife attractions.

 Completed in 2015, the five-story property wraps around a central pool plaza with fire pit and has additional amenities, including an outdoor gourmet kitchen with grilling station, wellness studio with CrossFit-inspired equipment, yoga and spin room, tanning studio, relaxation garden, bark park with pet grooming station, cyber café, social lounge, electronic vehicle charging stations and an access-controlled parking garage.  Alexan Fairmount’s one- and two-bedroom units incorporate luxury finishes such as keyless entry, plank flooring, 10-foot ceilings, spa showers and gourmet kitchens with granite countertops, glass-paneled cabinetry, wine racks and stainless steel appliances.

The HFF debt placement team representing the borrower was led by senior managing director John Brownlee and associate director Michael Cosby.

For a complete copy of the company’s news release, please contact:
Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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