Thursday, December 6, 2012

HFF arranges $49 million financing for Class A multi-housing complex in Dallas, TX



Gramercy On The Park Apartments, North Dallas, TX
DALLAS, TX – HFF announced today that it has arranged $49 million in financing for Gramercy On The Park, a 535-unit, premier Class A multi-housing community in Dallas, Texas.

                HFF worked exclusively on behalf of Billingsley Company to secure the 10-year, fixed-rate permanent loan through Freddie Mac (Federal Home Loan Mortgage Corporation). 

Trey Morsbach
Loan proceeds were used to pay off an existing construction loan.  HFF will service the securitized loan through its Freddie Mac Program Plus® Seller/Servicer program. 

Gramercy On The Park is located at 4755 Gramercy Oaks Drive; ideally positioned at the southeast corner of the Dallas North Tollway and the George Bush Turnpike in the desirable Far North Dallas area. 

  This upscale midrise community was completed in 2011 and includes one- and two-bedroom units averaging 889 square feet in 13 floor plans.  

                The HFF team representing Billingsley Company was led by senior managing director Trey Morsbach

 For a complete copy of the company's news release, please contact:     

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |



No comments:

Post a Comment