Refinancing totaling $15.5 million for 3 Lubbock, TX multi-housing communities secured by HFF

  

Stone Lake, Lubbock, TX

DALLAS, TX, Nov. 18, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured refinancing totaling $15.5 million for three Lubbock, Texas multi-housing communities: Stone Lake, Savannah Oaks and The Fountains.

Working on behalf of the borrower, HFF placed three separate 10-year loans totaling $15.5 million with Lincoln Financial Group.  Each loan has a fixed-rate with five years of interest only.

The communities total 480 units and feature swimming pools, grilling/picnic areas, 24-hour fitness centers, business centers and dog parks.  Individual property details are listed below:

De'On Collins

Property Name and Location       Size                             Occupancy

Stone Lake                                 162 Units                      97%

7414 Elgin Avenue, Lubbock

Savannah Oaks                           150 Units                      97%

5204 50th Street, Lubbock

The Fountains                              168 Units                      97%

5001 Chicago Avenue, Lubbock

HFF’s debt placement team was led by associate director De’On Collins and senior managing director John Brownlee.

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

ohennessey@hfflp.com

www.LincolnFinancial.com.

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