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| Jon Mikula |
FLORHAM PARK, NJ –
Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured financing
totaling $65 million for a three-property, 974-unit multi-housing
portfolio.
The properties in the
portfolio are: Brighton Arms and Tree Haven in New Jersey and Valley Run in
Delaware.
HFF worked on behalf of the borrower, PRC Group, to secure
fixed-rate financing for the portfolio in three separate transactions through
Investors Bank.
Brighton Arms is located along West Sylvania Avenue near New
Jersey Route 18 in Neptune City, New Jersey.
The 20-building community was built in three phases and features 428
one- and two-bedroom units averaging 937 square feet each.
Tree Haven is a three-phase, two-story garden-style
apartment community located in Matawan and Aberdeen, New Jersey.
Phase I and II are located at 130 and 120
Ravine Drive in Matawan and Phase III is located at 33 Aberdeen Road in
Aberdeen.
The property totals 24
buildings consisting of 268 one- and two-bedroom units ranging between 789 to
1,050 square feet.
 |
| Jim Cadranell |
Valley Run is located at 2601 Carpenter Road in suburban
Wilmington, Delaware, approximately 1.3 miles from Interstate 95.
The garden-style community is comprised of 28
two- and three-story buildings that have 278 flat and townhome-style units
averaging 955 square feet each.
All of
the properties include amenities such as outdoor swimming pools, tennis courts
and large playgrounds.
The HFF debt placement team representing PRC Group was led
by senior managing directors Jim
Cadranell and Jon Mikula.
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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