HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $13.9 million refinancing for Alta Bayside, (top left photo) a 270-unit, Class A multi-housing community in Corpus Christi, Texas.
Working exclusively on behalf of Wood Partners, LLC, HFF director Matt Kafka (bottom right photo) placed the seven-year, adjustable-rate loan with Freddie Mac (Federal Home Loan Mortgage Corporation).
The financing is retiring the property’s construction loan and will be serviced by HFF.
Situated on nearly 15 acres, Alta Bayside is located at 1701 Ennis Joslin Road east of South Padre Island Drive in Corpus Christi. The 96% leased property was completed in 2007 and consists of 10, three-story buildings with units averaging 1,088 square feet each. Community amenities include a clubhouse, fitness center, pool, sand volleyball court, game room with billiards, reserved boat parking and storage units.
Wood Partners, LLC is a national multifamily development, acquisition and property management company that has 12 offices across the country. The company was founded in 1998 and since then has developed and/or built more than 38,000 multifamily apartment homes and condominiums with a total value exceeding $5.3 billion.
Contacts:
Matthew Kafka, HFF Director, (713) 852-3500, mkafka@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing , (713) 852-3500, krmurphy@hfflp.com
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