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| Vistas at Hackberry Creek, Irving, TX |
DALLAS, TX – HFF announced today that it has arranged $45.98
million in financing for the Vistas at Hackberry Creek, a 560-unit,
garden-style multi-housing community in Irving, Texas and Deer Park
Apartments, a 216-unit, garden-style multi-housing community in Deer Park,
Texas.
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| Deer Park Apartments, Deer Park, TX |
HFF worked on behalf of the Pure Multi-Family REIT LP to
secure acquisition financing for the assets in two separate transactions.
HFF placed the $29.5 million, 15-year, fixed-rate loan for
Vistas at Hackberry Creek with Aegon USA Realty Advisors, LLC. A separate $16.48 million, 10-year,
fixed-rate loan for Deer Park Apartments was secured through Freddie Mac’s (Federal Home Loan Mortgage
Corporation) CME Program.
The securitized loan
will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer
program.
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| John Brownlee |
Vistas at Hackberry Creek is located at 2527 West Royal Lane
near the intersection of John W. Carpenter Freeway and President George Bush
Turnpike northwest of downtown Dallas.
The property was renovated in 2007 and is 95.5 percent
leased. Community amenities include a
swimming pool, whirlpool, fitness center, clubhouse and business center.
Deer Park Apartments is located at 401 West Pasadena
Boulevard near the Sam Houston Tollway and Pasadena Freeway southeast of
downtown Houston.
Completed in 2000, the property is situated on 12.23 acres
and is 94 percent leased. Community
amenities include a resort-style swimming pool, 24-hour fitness center,
clubhouse, business center and covered parking.
The HFF team representing the borrower was led by senior
managing director John Brownlee.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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