FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) secured a $5.1 million refinancing for a 63,813-square-foot self storage facility in Newark, New Jersey.
HFF senior managing director Jon Mikula (top right photo) and associate director Michael Klein (top left photo) worked exclusively on behalf of the borrower, The Hampshire Companies, to secure the three-year, fixed-rate loan through TD Bank.
Completed in 2007, the property has 816 climate controlled units and a 500-square-foot office and sales center. Hampshire Self Storage operates the facility and it is currently 84% occupied. The property is situated on nearly one acre at 320-324 Elizabeth Avenue close to Interstate 78 in Newark.
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. www.hampshireco.com.
Contacts:
Jon Mikula, HFF Senior Managing Director, (973) 549-2000, jmikula@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
HFF arranges $26.55M refinancing for The Village at Muller Park® near Indiana University
INDIANAPOLIS, IN – The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $26.55 million refinancing for The Village at Muller Park®, a 248-unit / 668-bed luxury, off-campus student housing community serving students attending Indiana University in Bloomington, Indiana.
HFF managing director Jon Everson (lower right photo) worked on behalf of the borrower to arrange permanent financing that refinanced the borrower’s construction/mini-perm bank loan. The financing was secured through a 10-year fixed-rate loan through M & T Realty Capital Corporation – Fannie Mae. Debt service payments are based on interest-only for the first two years followed by a 30-year amortization.
Since opening for the 2008 Fall semester, the property has experienced strong occupancy and rent levels. Community amenities include a clubhouse with recreation room, fitness center, spa and tanning facility, computer/business center, swimming pool and basketball and volleyball courts. The Village at Muller Park® also provides residents with shuttle bus service to and from Indiana University’s campus.
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 secures $25.9M refinancing for Sawyer Heights Lofts in Houston
HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $25.9 million refinancing for Sawyer Heights Lofts, (bottom right photo) a 326-unit Class A multi-housing community in Houston, Texas.Working on behalf of Martin Fein Interests, Ltd., HFF executive managing director Scott Galloway, director Matthew Kafka and real estate analyst Robert Wooten placed the 10-year fixed-rate securitized loan with Freddie Mac (Federal Home Loan Mortgage Corporation). HFF will service the loan through their Freddie Mac Program Plus® Seller/Servicer program.
Built in 2007, Sawyer Heights Lofts amenities include a clubhouse, conference room, library, billiards room, direct-access parking garage, fitness facility with Pilates studio, swimming pool and two Jacuzzis. The property is situated on nearly five acres at 2424 Sawyer Heights Street in the Washington Avenue area of Houston close to Interstate 10 and Houston’s central business district.
“Sawyer Heights Lofts benefits from a fantastic amenity package and great location in the Washington Avenue area, which has experienced tremendous growth and revitalization due to the influx of young professionals,” said Kafka.
Martin Fein Interests, Ltd. is a Houston-based real estate investment company engaged in the development of Class A multi-housing communities across the southwest United States. Fein was recently ranked as one of the top-50 multi-housing builders by Multifamily Executive magazine.
Contacts:
Matthew Kafka, HFF Director, (713) 852-3500, mkafka@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
No comments:
Post a Comment