Thursday, April 25, 2013

HFF arranges $86.8 million acquisition financing for Monument Park in Fairfax, VA




Monument Park Apartments, Fairfax, VA

Whitaker Johnson
DALLAS, TX – HFF announced today that it has arranged $86.8 million in acquisition financing for Monument Park, a 460-unit, Class A multi-housing community in Fairfax, Virginia.

HFF worked on behalf of a private real estate fund advised by Crow Holdings Capital Partners, L.L.C. to secure the 10-year, fixed-rate loan through TIAA-CREF.

Monument Park is located at 4457 Oakdale Crescent Court in suburban Washington, D.C.’s Fair Oaks submarket and provides immediate access to key transportation routes in the area such as Interstate 66 and Lee Jackson Memorial Highway. 

Situated on 17.05 acres, the property is stabilized and consists of one-, two- and three-bedroom units averaging 1,014 square feet each.  Community amenities include a clubhouse, resort-style swimming pool, fitness center, business center, pub room, media center, jogging trails and barbecue and picnic area.  

Andy Scott
HFF’s debt placement team representing the borrower was led by senior managing director Whitaker Johnson and managing directors Andy Scott and Cary Abod.

                Crow Holdings Capital Partners, L.L.C. (“CHCP”) was established in late 2010 in response to new regulations and to expand the business of Crow Family Holdings, which was formed in the early 1990’s to exclusively manage the assets of the Trammell Crow Family. 

  Since 1998, CHCP and CHCP-affiliated entities have managed a series of real estate private equity funds that are designed to generate current income and benefit from the capital appreciation of portfolio investments.  

These six funds have had total equity commitments from partners of approximately $3.6 billion, approximately $675 million of which was committed by Crow Family Holdings.

Cary Abod
                TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $481 billion in assets under management (as of 6/30/12) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
  
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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