Monday, August 24, 2015

HFF arranges financing for Austin, TX multi-housing community

  
Falcon Ridge Apartments, 500 East Stassney Lane, Austin, TX
  
Eric Tupler
DENVER, CO, Aug. 24, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged financing for Falcon Ridge, a 296-unit, garden-style multi-housing community in Austin, Texas.

HFF worked on behalf of the borrower, Griffis Residential, to secure the 10-year, fixed-rate loan with TIAA-CREF.  Loan proceeds were used to acquire the property.

Built in 2000, Falcon Ridge has 12 residential buildings consisting of one-, two- and three-bedroom floor plans averaging 901 square feet each.

 Community amenities include two swimming pools, spa, fitness center, tanning room, sand volleyball court, barbecue area with grills, dog park, jogging trail, car wash and clubroom/business center.

 The property is situated on 23.45 acres at 500 East Stassney Lane immediately southeast of the intersection of Interstate 35 and Highway 71 in Austin’s South Central neighborhood.  The asset is 94 percent occupied.

The HFF debt placement team representing the borrower was led by senior managing director Eric Tupler, managing director Josh Simon and associate director Casey Wenzel.

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


No comments: