Tuesday, March 27, 2018

HFF announces $18.754M financing for 400-unit apartment community in Newport News, VA

Nicole Brickhouse

WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $18.754 million acquisition financing for Meadow View Townhomes, a 400-unit, garden-style apartment community in Newport News, Virginia.

HFF worked on behalf of the borrower, Brick Lane and Red Starr Investments, to secure the 10-year, fixed-rate acquisition loan through Freddie Mac’s CME Program.  The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

Meadow View Townhomes is a 77-building property comprising a variety of one, two-, three- and four-bedroom units totaling 345,660 square feet.

Jamie Leachman
 Fully renovated in 2017, the property is situated on 26.17 acres at 4801 Marshall Avenue just off Hampton Roads Beltway (Interstate 664) and a short distance from major employment drivers, including Langley Air Force Base and the Newport News Shipyard, as well as the Coliseum Central commercial corridor.

  Additional commercial projects in the surrounding area such as downtown Norfolk’s Waterside District and the Norfolk Premium Outlets are also underway and will enhance the community’s accessibility. 

On-site amenities include two laundry facilities in addition to in-unit washer and dryer hookups in each unit, a clubhouse, playground and on-site parking.

The HFF debt placement team representing the borrower included Jamie Leachman and Nicole Brickhouse.

“We are thrilled to have the opportunity to assist Brick Lane and Red Starr in capitalizing their strategic acquisition of Meadow View Townhomes,” Leachman said.  “This is Brick Lane’s fourth acquisition – and its first with Red Starr – in the Tide Water market in the last five months and this continues to build on their platform within the market of creating value within the workforce housing segment.”

For more information, please contact:

Kimberly Steele​
Digital Content/Public Relations Specialist
T: 713-852-3420