MIAMI, FL – HFF announced today that it has arranged acquisition financing for Enclave at Northwood (top left photo), a 188-unit garden-style multi-housing community in Clearwater, Florida.
HFF worked exclusively on behalf of an affiliate of Stonebridge Investments to secure the 10-year, fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.
The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.
Enclave at Northwood is located at 2690 Enterprise Road, northeast of downtown Clearwater and Clearwater Beach. The two-phased community is 96 percent occupied and features a mixture of one-, two- and three-bedroom townhome and villa units. Community amenities include a swimming pool with picnic area, fitness center and tennis court.
The HFF team representing the borrower was led by director Elliott Throne (middle right photo) and senior real estate analyst Todd Adams (bottom left photo). ZRS Management, LLC will provide property management services.
“Stonebridge acquired the property on attractive terms as they successfully captured a very low interest rate on a long-term loan, which will allow them to further enhance the returns on this asset,” stated Throne.
For a complete copy of the company’s new release, please contact:
ELLIOTT P. THRONE
HFF Director
(305) 421-6549
ethrone@hfflp.com
OLIVIA N. HENNESSEY
HFF Associate, Marketing
(713) 852-3500
Great post, this was very interesting Alex! I came across your article while I was looking at vacation rentals Clearwater , and I'm definitely happy I did because this was very informative. I did not here about this purchase, thank you for sharing this with us!
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