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| Falcon Ridge Apartments, 500 East Stassney Lane, Austin, TX |
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| 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
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