HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured a $5.8 million refinancing for Morgan Oaks Apartments, (top left photo) a Class A multifamily community in Alvin, Texas. Working exclusively on behalf of Minkoff Development, LLC, HFF managing director Tucker Knight (top right photo) and real estate analyst Steve Gautier placed the 10-year, fixed-rate loan with Freddie Mac under their Capital Markets Execution (CME)
program.
program.The securitized loan will be serviced by HFF. Minkoff Development, LLC is involved in several business ventures primarily focusing on developing and managing apartment communities.
“We used Freddie’s CME program to access more dollars as well as better pricing on the loan. The entire process from day one to closing was first-rate,” said Gautier
.
. Morgan Oaks Apartments is located at 877 E. House Street near State Route 6 approximately 25 miles southeast of Houston. Completed in two phases in 2006 and 2007, the property has 98 units that are approximately 94% leased.
Morgan Oaks has three different floor plans with average unit size of 879 square feet. Community amenities include a swimming pool, clubhouse, fitness center, playground and security access gates.
HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured f
inance, private equity, note sales and note sale advisory services and commercial loan servicing. http://www.hfflp.com/. CONTACTS:
Tucker S. Knight, HFF Managing Director, 713 852 3500, tknight@hfflp.com
Laurie Fish McDowell, HFF Associate Director, 617 338 0990, lmcdowell@hfflp.com
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