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| Wildwood Acres Apartments, 13418 Dottie Drive, Tampa, FL |
MIAMI, FL – HFF announced today that it has arranged a $16.4
million refinancing for Wildwood Acres, a 340-unit multi-housing
community in Tampa, Florida.
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| Elliott Throne |
HFF worked exclusively on behalf of the owner to secure the
seven-year, 2.42 percent, adjustable-rate loan 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.
Wildwood Acres is a unique project with 168 single-story
duplex buildings and one quadraplex building offering single-family home type
features such as private front entrances and large fenced in backyards.
Situated on approximately 34.86 acres, the property is 99
percent leased and includes a mixture of one-, two-, three-, and four-bedroom
units averaging 946 square feet each.
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| Todd Adams |
Community amenities include two swimming pools, a laundry
facility, several picnic areas and dog park.
Wildwood Acres is located at 13418 Dottie Drive within minutes of
Interstate 75, Fletcher Avenue and the University of South Florida’s main
campus.
The debt placement team representing the borrower was led by
director Elliott Throne and associate director Todd Adams from
HFF’s Miami office along with local market support from director Matt
Mitchell in HFF’s Tampa office.
"While some borrowers are locking in long-term,
fixed-rate financings, others are taking great advantage of Freddie's
seven-year, adjustable rate loan structure," stated Throne.
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| Matt Mitchell |
"These loans offer great starting rates (in the mid-two
percent range with the expectation to stay low for the next few years) and very
flexible prepayment schedules.”
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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