Wednesday, June 3, 2009

HFF arranges $24.1M financing for Silver Spring, MD multifamily community


WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $24.1 million in financing for Rollingwood Apartments, (above centered photo) a 283-unit multifamily community in Silver Spring, Maryland.

HFF director Cary Abod (top right photo) and senior managing directors Bob Donhauser (middle left photo) and Bill Asbill (bottom right photo) worked exclusively on behalf of the borrower, Federal Realty Investment Trust, to secure the 10-year, 5.72 percent fixed-rate loan with Wachovia Multifamily Capital, Inc. – FNMA.

“This was a very conservative deal in a strong rental market, which allowed the process to move smoothly and quickly, even in this environment,” said Abod.

Rollingwood Apartments is located at 2535 Ross Road approximately seven miles northwest of downtown Washington, D.C. The property has one-, two- and three-bedroom apartment and townhome units averaging 859 square feet each.

Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management and redevelopment of high quality retail assets.


Federal Realty's portfolio (excluding joint venture properties) contains approximately 18.1 million square feet. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962 and has increased its dividend rate for 41 consecutive years, the longest record in the REIT industry.

Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT.


HFF (NYSE: HF) operates out of 17 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 finance, private equity, loan sales and commercial loan servicing. http://www.hfflp.com/.

Contacts:

Cary P. Abod, HFF Director, (202) 533-2500, cabod@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

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