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| Skyline Fifth Apartments, St. Petersburg, FL |
MIAMI, FL – HFF announced it has placed a $15.6 million loan
with Freddie Mac for Skyline Fifth, a 178-unit, luxury high-rise
multi-housing property in St. Petersburg, Florida.
HFF
worked exclusively on behalf of the borrower, Altis, LLC, to secure the
10-year, 3.71 percent, fixed-rate loan through the agency’s CME Standard
Execution Program.
Loan proceeds were
used to acquire the property. HFF will
service the securitized loan through its Freddie Mac Program Plus®
Seller/Servicer program.
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| Elliott Throne |
Skyline Fifth is located at 441 33rd Street North close to Interstate
275 and St. Pete Beach in the Kenwood area of St. Petersburg. Originally built in 1962, the property
underwent a complete renovation in 2009 and is currently 97 percent
leased.
Skyline Fifth features one- and two-bedroom units in nine
different floorplans. Community
amenities include a swimming pool, cardio center and a café lounge with
internet access.
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| Manny de Zarraga |
The
HFF team representing Altis, LLC, was led by director Elliott Throne and
executive managing director Manny de Zárraga.
“The borrower locked in great, long-term financing on a
practically brand new asset whose local popularity is evidenced by its very
high occupancy.
"Like many borrowers today, who are taking advantage of this
very low interest rate environment, the buyer now has a great financial asset
to go along with their real estate asset,” said Throne.
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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