MIAMI, FL – HFF announced that it has arranged a $22.2 million refinancing for Integra Landings (top left photo), a 270-unit, Class A multi-housing community in Orange City, Florida.
HFF worked exclusively on behalf of the borrower, Integra Landings, LLC, to secure the seven-year, fixed-rate loan through Freddie Mac. The financing has a two-year, interest-only period, a rate in the low four percent range, and will be securitized through Freddie Mac’s CME Program.
HFF will service the loan through its Freddie Mac Program Plus® Seller/Servicer program.
The property is located at 1112 Integra Landings Drive within close proximity to Interstate 4, which provides access to the Orlando central business district to the south.
Development of the project was completed in 2008 by Integra Land Company. Integra Landings has one-, two- and three-bedroom unit floor plans averaging 1,075 square feet each, and offers its residents secure gated access, a resort style pool with a lap lane, and a washer and dryer in every unit, among other amenities.
The HFF team representing the borrower was led by director Elliott Throne (middle right photo).
“Freddie Mac was not only able to offer a very aggressive 80 percent LTV deal with two years of interest only, but was also able to increase proceeds following the early locking of the rate,” said Throne.
“Integra Landings is the premier luxury complex in the area and offers an impressive collection of community and individual residence amenities,” added Throne.
Headquartered in Lake Mary, Florida, Integra specializes in identifying new sites for development as well as shaping bold and innovative designs into sound income producing resources.
Contacts:
ELLIOTT P. THRONE KRISTEN M. MURPHY
HFF Director HFF Associate Director, Marketing
(305) 421-6549 (713) 852-3500
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