 |
| Apartment Portfolio, Houston, TX |
 |
| Todd Marix |
HOUSTON, TX – HFF announced it has closed the sale of and
arranged financing for a four-property, Class A multi-housing portfolio
totaling 900 units in Houston, Texas.
HFF
marketed the property on behalf of the seller.
Southwest Multifamily Partners, a commingled fund jointly led by Los
Angeles-based CityView and Dallas-based Lincoln Property Company purchased the
portfolio in a joint venture with an institutional co-investment partner.
HFF’s debt placement team worked on behalf of the buyer to
secure acquisition financing in four separate transactions through Freddie
Mac’s (Federal Home Loan Mortgage Corporation) CME Program.
The securitized loans will be serviced by
HFF through its Freddie Mac Program Plus® Seller/Servicer program.
The
portfolio, located in the Texas Medical Center and Galleria submarkets, is 95
percent leased overall and will be managed by Lincoln Property Company. Individual property details are below:
 |
| Todd Stewart |
·
Mirage Apartments, 2100 Bering Drive, Galleria, 200
Units
·
Parque Del Oro Apartments, 8380 El Mundo Street,
Texas Medical Center, 224 Units
·
San Melia Apartments, 6383 El Mundo Street, Texas
Medical Center, 252 Units
·
Versailles Park Apartments, 7200 Almeda, Texas
Medical Center, 224 Units
The
HFF investment sales team representing the seller was led by senior managing
directors Todd Marix and Todd Stewart and director Chris Curry.
HFF’s debt placement team was led by senior managing
director Andy Scott, executive managing director Jody Thornton and
associate director Michael Cosby.
Southwest Multifamily Partners, LP was formed in 2012 to
focus on value-add multifamily investments in the major metros across the
southwest U.S. The fund, led by
CityView as its managing member, and Lincoln Property Company as its exclusive
operating partner, has acquired more than 1,500 units in Dallas, Fort Worth and
Houston, Texas and in Boulder, Colorado.
 |
| Chris Curry |
CityView is an investment manager with more than $750 million under
management on behalf of institutional investors.
In addition to the value-add fund, CityView is currently
developing 12 multifamily projects across various infill markets such as San
Francisco, Oakland, San Jose, Los Angeles, Orange County and San Diego.
Lincoln Property Company is a privately held real estate
firm involved in real estate investment, development, property management and
leasing worldwide. Lincoln was founded
in 1965 and maintains offices in all major markets of the U.S. and throughout
Europe.
Lincoln's cumulative development efforts have produced more
than 100 million square feet of commercial space and more than 200,000
multifamily residential units. Lincoln
Property Company is one of the largest commercial real estate companies in the
world.
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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