Thursday, December 20, 2012

HFF secures $51.8 million in financing on behalf of Kennedy Wilson



Harrington Square Apartments,
Renton, WA
IRVINE, CA – HFF announced today that it has secured $51.8 million in financing on behalf of Kennedy Wilson for the Atrium Apartments and Harrington Square Apartments, multi-housing communities in Kent and Renton, Washington,. 

                HFF worked on behalf of the borrower to secure the two 10-year fixed-rate loans with M&T Realty Capital Corporation (FNMA).  

A $25.8 million loan with a 3.44 percent rate was arranged for The Atrium Apartments and a $26 million loan with a 3.35 percent rate was secured for Harrington Square. 

Charles Halladay
The Atrium Apartments is located on more than 20 acres at 6248 South 242nd Place in the south end submarket of Kent, a city halfway between Seattle and Tacoma.  Renovated in 2009, the property has 300 units within 21 buildings.  

Units range from one- to three-bedroom layouts and average 835 square feet each.  Community amenities include an indoor basketball court, fitness center, spa, heated outdoor swimming pool, clubhouse and two children’s play areas.  The 95 percent leased property also includes 52 detached garages.

Mark Wintner
Completed in 2011, Harrington Square Apartments has 217 units plus 2,980 square feet of retail space. The property is 95 percent leased and features studio, one- and two-bedroom layouts.  Community amenities include a clubhouse, fitness center, bbq area and garage parking.  Harrington Square Apartments is located at 950 Harrington Avenue NE close to Interstate 405 in Renton, southeast of Seattle. 

                The HFF team representing Kennedy Wilson was led by director Charles Halladay and managing director Mark Wintner.
  
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 | www.hfflp.com

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