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| Ten Oaks Apartments, 12612 North Lamar Boulevard, Austin, TX |
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| Michael Ochstein |
DALLAS, TX – HFF announced today that it has arranged $17.25
million in financing on behalf of Michael Ochstein, President of Price
Realty Corporation
HFF
worked on behalf of Price Realty Corporation to secure the three-year,
floating-rate loan through Principal Real Estate Investors. Loan proceeds were used to acquire the
property.
This is the third acquisition
by Price Realty in Austin during the past year, the others being Keystone
Apartments and Acacia Cliffs.
Ten
Oaks Apartments is located at 12612 North Lamar Boulevard about 10 miles
north of downtown and close to Interstate 35 and U.S. Route 290. Completed in 2013, the Class A property has
192 units that are 97% leased.
 |
| John Brownlee |
Community amenities
include a clubhouse, fitness center, resort-style pool, barbecue grills and
smoker, business center, outdoor fireplace, gaming lounge with Wii, billiards
parlor, and cyber café.
The
HFF team representing Price Realty Corporation was led by senior managing
director John Brownlee.
Founded in 1991, Price Realty Corporation owns/manages over
6,000 apartment units throughout Texas.
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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