Sunday, February 26, 2017
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged acquisition financing for The Villages of Addison, a 264-unit, garden-style community in Dallas, Texas.
HFF marketed the property on behalf of the seller, The Connor Group. Advenir, Inc. purchased the offering for an undisclosed amount. This asset is Advenir’s first acquisition funded by a $100 million revolving credit facility that HFF recently secured on its behalf.
The Villages of Addison is located at 17671 Addison Road just west of the Dallas North Tollway and less than two miles south of the President George Bush Turnpike interchange in Far North Dallas.
Other nearby amenities include the Galleria Dallas, Addison Circle, Bent Tree Country Club and the University of Texas at Dallas campus. The property is approximately 95 percent leased and offers a variety of one- and two-bedroom units ranging from 698 to 1,168 square feet.
The community features a resort-style swimming pool, spa, fitness center, sauna, outdoor grilling/picnic areas, clubhouse, game room, lounge and business center. Advenir will rebrand The Villages of Addison as Advenir@Addison.
The HFF investment sales team representing the seller was led by senior managing directors Roberto Casas and Bill Miller and directors Greg Toro and Rob Key.
The HFF debt placement team representing Advenir was led by managing director Josh Simon and senior managing directors Eric Tupler and Andy Scott.
For a complete copy of the company’s news release, please contact:
Public Relations Specialist
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | hfflp.com
Posted by Alex at 11:51 AM