HFF closes sale of and arranges financing for Fox Hill Apartments in Austin, TX

AUSTIN, TX – HFF announced today that it has closed the sale of and arranged acquisition financing for Fox Hill Apartments (top left photo), a 288-unit multi-housing community in Austin, Texas. 

HFF exclusively represented the seller, Fox Hill Partners, L.P.  Waterton Residential Property Venture XI, L.P. purchased Fox Hill Apartments for an undisclosed amount.  HFF also arranged a $23.8 million, five-year, fixed-rate acquisition loan through M&T/Fannie Mae.  The loan has a 30-year amortization period. 

Completed in 2009, Fox Hill Apartments has 14 three-story buildings with one-, two- and three-bedroom units averaging 1,066 square feet each.  Community amenities include a fitness center, clubhouse, playground, business center, swimming pool, conference center, laundry facility, valet trash pickup and dog park.  The 97.3 percent leased property is situated on 44.77 acres at 8800 US Hwy 290 West close to MoPac Expressway and Southwest Parkway.

HFF’s investment sales team representing the seller was led by senior managing director Sean Sorrell (middle right photo)

HFF’s debt placement team representing the buyer/borrower was led by managing director Stephen Skok (middle left photo) and managing director Douglas Opalka (lower right photo).

Chicago-based Waterton Residential, one of the leading multifamily companies in the nation, is focused on the acquisition and management of apartment communities in multiple markets to which it can add value through repositioning and renovation. 

Since its inception in 1995, the Waterton Residential team has remained committed to outstanding customer service by providing a community our residents are proud to call home. 

With over 17,350 apartment homes in 45 communities in 12 states the Waterton Residential brand signifies exceptional living experiences, a sense of community, and home.  Waterton employs 474 associates who are committed to achieving the Waterton Residential vision to be the leader in the multifamily industry.

 www.watertonresidential.com.

Contacts:             

SEAN SORRELL                               STEPHEN SKOK                   

HFF Senior Managing Director          HFF Managing Director          

(512) 532-1900                                   (312) 528-3650                        

ssorrell@hfflp.com                           sskok@hfflp.com                     

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