HFF secures $2.5M construction/mini-permanent loan for student housing project at Indiana University

INDIANAPOLIS, IN – The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.) secured a $2.5 million construction/mini-permanent loan for Cherry Hill Manors, a to-be-built, 50-bed student housing project at Indiana University in Bloomington, Indiana.

Working on behalf of 16th & Dunn LLC, HFF managing director Jon Everson (top right photo)  placed the construction loan and 20-year permanent loan (rate resets every five years) with a bank lender. Loan proceeds will be used to finance construction of the project.

Due for completion prior to the start of the Fall 2010 semester, Cherry Hill will contain five duplex buildings (10 units with five beds per unit). The property is 100 percent pre-leased and is located at 1309 North Dunn Street close to the campus of Indiana University (IU), IU’s Memorial Stadium and Assembly Hall.

Contacts:

Jonathan P. Everson, HFF Managing Director, (317) 630-3191, jeverson@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF Atlanta hires Doug Childers to focus on affordable housing transactions

ATLANTA, GA – HFF (Holliday Fenoglio Fowler, L.P.)  has hired Doug Childers as an associate director in the investment sales group in its Atlanta office.

Childers will focus on the disposition of multi-housing assets throughout the nation that are encumbered with affordable housing restrictions.

 He joins the Atlanta multi-housing team of Jason Nettles and Megan Thompson (bottom left photo). While Nettles and Thompson will continue to focus on conventional multi-housing dispositions, Nettles will assist Childers in his efforts on the affordable side of the business.

Contacts:

Jason Nettles, HFF Managing Director, (404) 832-8460, jnettles@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com