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| Thomas Didio |
FLORHAM PARK, NJ -–
Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured financing
totaling $98.403 million for an 11-property multi-housing portfolio totaling
1,300 units located in various New Jersey and New York locations.
HFF worked exclusively on
behalf of Tower Management Service, L.P. to place 11 separate 10-year, interest
only, fixed-rate loans with Freddie Mac’s (Federal Home Loan Mortgage
Corporation) CME Program.
The
securitized loans will be serviced by HFF through its Freddie Mac Program Plus®
Seller/Servicer program. Loan proceeds
were used to refinance existing Freddie Mac debt.
The garden-style
properties are 95 percent occupied overall.
The New Jersey properties encompass five communities totaling 354 units
in Bergen County, two communities totaling 231 units in Union County, one
176-unit community in Mercer County and one 317-unit community in Middlesex
County. The two New York properties are
located in Orange County and total 222 units.
The HFF debt placement
team representing the borrower was led by senior managing director Thomas Didio.
“The borrower has a
terrific management organization and Freddie Mac was happy to provide the
financing to such a strong owner,” Didio stated. “In addition, the HFF Freddie Mac
underwriting team did a great job underwriting and closing these loans allowing
for a smooth process overall.”
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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