 |
| Cortney Cole |
DENVER, CO – Feb. 24, 2016
– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged
acquisition financing for Broadstone
Stone Park, a 480-unit, garden-style apartment community in Houston, Texas.
HFF worked exclusively on
behalf of the borrower, Advenir, Inc., to secure the seven-year, 2.82 percent,
floating-rate loan with three years of interest only through Freddie Mac’s
(Federal Home Loan Mortgage Corporation) CME Program.
The securitized loan will be serviced by HFF
through its Freddie Mac Program Plus® Seller/Servicer program. Advenir will rebrand the property as
Advenir@Stone Park and will implement a capital improvement program to achieve
greater rental premiums.
Broadstone Stone Park is
situated on 21.59 acres at 6160 East Sam Houston Parkway North, approximately
seven miles northwest of the Port of Houston and 16 miles northeast of
downtown.
The two-phased,
controlled-access community has 17 residential buildings totaling 414,564
rentable square feet and two separate amenity packages for each phase including
resort-style swimming pools; state-of-the-art fitness centers; barbecue and
picnic areas; clubhouses with full kitchens, billiards tables and
shuffleboards; business centers; and detached garages and carports.
The HFF debt placement
team representing Advenir, Inc. was led by Josh
Simon, Eric Tupler and Cortney Cole.
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:
Post a Comment