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| Jon Mikula |
FLORHAM PARK, NJ – Holliday Fenoglio Fowler, L.P. (HFF)
announced it has secured $24.8 million in financing for Andover Woods, a 392-unit, Class A apartment community in
Charlotte, North Carolina.
HFF worked on behalf of the
borrower, Heritage Capital Group, LLC (Heritage), to arrange the 10-year,
fixed-rate Fannie Mae loan through M&T Realty Capital Corporation. Loan proceeds were used to acquire the
property.
Andover Woods is located
at 7808 Andover Woods Drive near Interstates 485 and 77, approximately 10 miles
south of downtown Charlotte. The
property, which sits on a 44-acre parcel, was constructed in phases between
1986 and 1995 and was 93 percent occupied at closing.
The HFF debt placement
team was led by senior managing directors Jon
Mikula and Travis Anderson.
“This acquisition was an
important transaction for Heritage as they continue to grow their North
Carolina multi-housing portfolio. Lender
interest for this loan was high, but M&T/Fannie Mae was quick to get their
hands around the deal and provide certainty of execution,” said 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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