HFF arranges refinancing totaling $36.75M for Oklahoma multi-housing communities

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.)  has arranged refinancing totaling $36.75 million for The Links at Oklahoma City (top left photo)  and The Greens at Broken Arrow Phase III, (middle right photo)  multi-housing communities in Oklahoma City and Broken Arrow, Oklahoma.

Working exclusively on behalf of Lindsey Management Company, Inc., HFF director Brian Carlton (bottom left photo)  placed the fixed-rate loans with M&T (FNMA). The Links at Oklahoma received a 20-year, fully-amortizing loan and The Green at Broken Arrow Phase III received a 10-year loan.

The Links at Oklahoma City has 49 two-story buildings with 588 units averaging 800 square feet each. The 98% leased property is situated on 86 acres surrounding a golf course at 700 NE 122nd Street in Oklahoma City.

Completed in 2009, The Greens at Broken Arrow Phase III has 216 units within 18 buildings. Units average 843 square feet each and are fully leased.

The Greens at Broken Arrow Phase III is located at 2101 East Omaha Street surrounding a golf course in Broken Arrow, approximately 10 miles southeast of downtown Tulsa.

Lindsey Management Co., Inc. (LMC), based in Fayetteville, Arkansas, began operations in 1985.

Since then, the company has grown to become the largest property management firm of multi-family housing in the state of Arkansas and is making a strong presence in the states of Alabama, Kansas, Mississippi, Missouri, Nebraska, Oklahoma and Tennessee.

Contacts:

Brian G. Carlton, HFF Director, (214) 265-0880, bcarlton@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF closes sale of REO office assets in Houston’s Westchase submarket

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.)  has closed the sale of 9950 Westpark Drive and 10333 Harwin Drive, REO office assets totaling 259,854 square feet in Houston’s Westchase submarket.

HFF senior managing directors Dan Miller (lower right photo)  and Robert Williamson (lower left photo)  led the investment sales team on behalf of special servicer LNR Partners, Inc. Boxer Property purchased the properties for an undisclosed amount.

The 111,159-square-foot 9950 Westpark Drive property is 69% leased and is situated on 2.3 acres on the north side of the Westpark Tollway at the intersection of Gessner Road in west Houston. 10333 Harwin, located on the south side of Westpark Tollway, has 148,695 square feet that is 46% occupied.

Both of these properties were acquired at a significant discount to replacement cost and are poised to benefit from increasing occupancy and revenue as the leasing market rebounds,” said Miller.



LNR Partners is one of the largest special servicers of CMBS loans in the U.S. and is part of privately-held LNR Property Corporation based in Miami Beach, Florida.

Boxer Property was founded in 1992 to manage, lease, renovate, and administer closely held commercial properties from acquisition through disposition.

Contacts:

H. Dan Miller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500, dmiller@hfflp.com

 Robert E. Williamson, HFF Senior Managing Director, (713) 852-3500, rwilliamson@hfflp.com

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