HFF arranges $24.3 million financing for southwest Austin, TX luxury multi-housing community

Avanti Hills (Alexan Galleria), Austin, TX

AUSTIN, TX – HFF announced today that it has arranged $24.3 million in financing for Avanti Hills (Alexan Galleria), a 309-unit, luxury multi-housing community in southwest Austin, Texas.

                HFF worked on behalf of the borrower, Christopher Commercial, Inc., to secure the 10-year, 3.23 percent, fixed-rate loan through Freddie Mac (Federal Home Loan Mortgage Corporation). 

  The securitized loan was used to acquire the property.  HFF will service the loan through its Freddie Mac Program Plus® Seller/Servicer program.

Douglas Opalka

Avanti Hills is situated on 9.5 acres at 12601 Bee Caves Parkway, adjacent to the Hill Country Galleria and close to US Highway 71 and Loop 620 in the Bee Cave area of Austin.  Completed in 2008, the property has one- and two-bedroom units averaging 949 square feet each.  Community amenities include a clubhouse, fitness center, business center, coffee bar, billiards room and swimming pools.  Avanti Hills is 96 percent leased.

                The HFF team representing the borrower was led by senior managing director Douglas Opalka.

Christopher Commercial is a locally-run, family company that owns and operates retail shopping centers in Austin, Texas.

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

krmurphy@hfflp.com