DALLAS, TX – HFF announced it has arranged financing for three garden-style multi-housing communities totaling 600 units in Grand Prairie, Arlington and Irving, Texas.
HFF worked on behalf of Pure Multi-Family REIT LP to secure three separate fixed-rate loans through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. The securitized loans will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.
The properties are:
Windscape Apartment Homes, Grand Prairie, TX, 154 Units, 100% occupied.(top centered photo)
Oakchase Apartment Homes, Arlington, TX, 236 Units, 98% occupied. (middle right photo)
Stoneleigh at Valley Ranch, Irving, TX, 210 Units, 95% occupied. (lower left photo)
The HFF team representing the borrower was led by senior managing director John Brownlee.
Pure Multi-Family REIT LP’s long-term objectives are generating stable and growing cash distributions on a tax-efficient basis from investments in multifamily real estate properties in major markets in the United States; enhancing the value of the Pure Multi-Family REIT LP’s assets and maximizing the long-term value of the properties through active management; and expanding its asset base and increasing its AFFO through an accretive acquisition program and improvements of the properties through targeted value-added capital programs.
Contacts:
JOHN S. BROWNLEE
HFF Senior Managing Director
(214) 265-0880
OLIVIA N. HENNESSEY
HFF Associate, Marketing
(713) 852-3500
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