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| Mona Carlton |
DALLAS, TX – May 2, 2016 –
Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $48.15
million in acquisition financing on behalf of affiliates of Abacus Capital
Group LLC (Abacus) for The Burlington, a 427-unit apartment community in St.
Paul, Minnesota.
Working on behalf of a
fund advised by Abacus, HFF placed the floating-rate loan via revolving credit
facility with Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME
Program. The loan will be serviced by
HFF through its Freddie Mac Program Plus® Seller/Servicer program.
The Burlington is located
at 1180 Cushing Circle approximately 6.5 miles northwest of downtown St.
Paul. The 98-percent-leased property is
just south of Lake Como and the Como Park Zoo and accessible to Route 51 and
Interstates 94 and 35. The Burlington
has studio, one- and two-bedroom units ranging from 454 to 1,361 square feet
and features a swimming pool, spa, grilling area, tennis court, fitness center,
clubhouse with coffee bar and access to nearby walking and biking trails.
The HFF debt placement
team representing the borrower was led by senior managing director Mona Carlton.
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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