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| David B. Keller |
INDIANAPOLIS, IN –– Holliday
Fenoglio Fowler, L.P. (HFF) announces the $30.359 million recapitalization
of River Club Apartments and River Club Townhomes, two student housing
communities operated as a single property, which serve the University of
Georgia (UGA) in Athens, Georgia. The properties total 366 units and
1,134 beds.
The HFF team worked on behalf of
the borrower, an entity managed and controlled by The Scion Group, to secure the
seven-year, floating-rate loan through Freddie Mac’s CME Program.
The
securitized loan replaced existing Fannie Mae financing, and will be serviced
by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional
Loans.
River Club Apartments comprises two- to four-bedroom units with
private bathrooms, hardwood-style plank flooring and flat panel TVs. The
property is situated on 93 forested acres at 1005 Macon Highway along the
Oconee River.
Located adjacent to
the Apartments, River Club Townhomes is a 32-acre, gated property, which offers
three- and four-bedroom floorplans within two-story townhome units.
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| Mark Sixour |
Community amenities at
both properties include swimming pools; volleyball, tennis and basketball
courts; fitness centers; computer labs; car wash stations; private tanning
salons; and on-site bus stops with service to UGA.
The properties were
100 percent occupied for the 2017 to 2018 school year, and are within three
miles of campus.
The HFF debt placement team representing the borrower included
senior managing directors David B. Keller and Mark Sixour.
For more
information, please contact:
OLIVIA N.
HENNESSEY
HFF Public Relations
Specialist
(713) 852-3500
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