MIAMI, FL – HFF announced today that it has placed a $17.8 million financing with Freddie Mac for Delaney Park at Southwood (top left photo), a 248-unit, premier Class A multi-housing community in Tallahassee, Florida.HFF worked on behalf of Epoch Properties, Inc. to secure the seven-year, fixed-rate loan through Freddie Mac’s Early Rate Lock Capital Markets Execution (CME) Program. The securitized loan has a rate below five percent and will be serviced through HFF’s Freddie Mac Program Plus® Seller/Servicer program.
Delaney Park at Southwood is adjacent to SR 251 in Tallahassee about 3.7 miles from the Florida State capitol. Epoch completed the development in 2007 and has managed the property since completion. Delaney Park at Southwood has 12 residential buildings that are 95 percent leased.
Community amenities include a beach-style entry swimming pool, whirlpool spa, cardio/strength training fitness center, indoor basketball court, steam sauna, private movie theater, billiards and game area, resident conference room with library, car care center and controlled access gates.
The HFF team representing Epoch Properties, Inc. was led by director Elliott Throne and senior real estate analyst Todd Adams.
“Epoch took advantage of the current low interest rate environment and paid off their original construction loan with a new permanent loan that had terms only Freddie Mac could offer. They now have an attractive low interest rate long-term financing that can be assumed by a new buyer if they choose to sell the asset in the future,” said Throne.
Epoch Properties, Inc. is based in Winter Park (Orlando), Florida and has developed over 32,000 multifamily living units in over 55 cities from California to Florida. Epoch currently owns 3,913 units in 11 properties and manages over 6,100 units
Contacts:
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,
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