HFF arranges $9.9M financing with Freddie Mac for Lubbock, TX multi-housing community

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $9.9 million financing through Freddie Mac (Federal Home Loan Mortgage Corporation) for the refinance of Sagewood Apartments, (bottom left photo) a 355-unit multi-housing community in Lubbock, Texas.

HFF senior managing director Mona Carlton (top right photo)  worked on behalf of McDougal Companies to secure the 10-year, 5.79% fixed-rate securitized loan. HFF will service the loan through their Freddie Mac Program Plus® Seller/Servicer program.

Located at 5917 67th Street, Sagewood Apartments is close to the Brownfield Highway and Loop 289 Interchange in Lubbock. The property was built in two phases in 1998 and 1984, and is 90% occupied.

During the past 27 years, McDougal Companies has grown into four separate divisions including McDougal Properties, McDougal Realtors, McDougal Land Company and McDougal Construction.

Contacts:

Mona K. Carlton, HFF Senior Managing Director, (214) 265-0880, mcarlton@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com