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| John Brownlee |
DALLAS, TX – HFF announced it has arranged financing for two
garden-style multi-housing communities – San Brisas in Chandler, Arizona
and The Preserve at Arbor Hills in Plano, Texas.
HFF
worked on behalf of Pure Multi-Family REIT LP, to secure the seven-year loan
through Northwestern Mutual. Loan
proceeds were used to acquire the properties.
San
Brisas is located at 900 North Road, less than three miles from Interstate 10
and approximately 19 miles southeast of downtown Phoenix.
Completed in 1996, the property is 96
percent leased and includes 208 one-, two and three-bedroom units averaging 1,006
square feet each. Community amenities
include a heated outdoor swimming pool, hot tub, fitness center, barbecue
grills and sand volleyball court.
The
Preserve at Arbor Hills is located at 7001 West Parker Road adjacent to the
Arbor Hills Nature Preserve and approximately 21 miles north of downtown
Dallas. Completed in 1998, the property
is 97 percent leased and includes 330 one-, two- and three-bedroom units
averaging 940 square feet each. Community
amenities include a resort-style tropical pool with waterfall, heated spa,
24-hour fitness center, picnic areas with barbecue grills, business center and
coffee bar.
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| The Presere at Arbor Hills Apartments, Plano, TX |
The
HFF team representing the borrower was led by senior managing director John
Brownlee.
Pure
Multi-Family REIT LP is a Canadian-based, publicly-traded vehicle which offers
investors exclusive exposure to attractive, institutional quality U.S.
multi-family real estate assets.
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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