WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) has been named by American Senior Housing, LC to market for sale Sugarland Hill, (top right photo) an 80-unit luxury independent living facility in Herndon, Virginia.The HFF investment sales team will be led by directors Dave Nachison (top left photo) and Alan Davis.(bottom right photo)
The property is listed for sale without an asking price. American Senior Housing is a Fairfax, Virginia-based professional developer and operator of senior facilities.
“The property has excellent assumable long-term, non-recourse HUD financing with terms that are unavailable in the current environment, providing prospective investors with above market loan proceeds and a below market interest rate,” said Nachison.
Sugarland Hill is situated on a 4.5-acre site at 1100 Dranesville Road in the Herndon area of northern Virginia.
Completed in 2006, the four-story building has one- and two-bedroom units averaging 986 square feet each.Community amenities include a business center, party lounge with flat screen television, outdoor patio with gas grill, billiards lounge, game room, indoor therapy pool, woodworking shop, arts & crafts room, fitness center, library and putting green. Social activities, nightly catered evening meals and chauffeured transportation are also available to residents.
“Sugarland Hill offers investors outstanding potential for strong equity returns through consistent cash flow and long-term residual value,” added Davis.
CONTACTS:
David R. Nachison, HFF Director, (202) 533-2500, dnachison@hfflp.com
Alan M. Davis, HFF Director, 202) 533-2500, adavis@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
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