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| Montclair Terrace Apartments, Portland, OR (Photo by Red Studio Inc.) |
DENVER, CO – June 6, 2016
- Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured
$21.3 million in financing for Montclair
Terrace, a 188-unit, garden-style apartment community in southwest
Portland, Oregon.
HFF worked on behalf of
the borrower, a REIT sponsored by Resource Real Estate, Inc. (“RRE”), to place
the seven-year, floating-rate loan with Freddie Mac’s (Federal Home Loan
Mortgage Corporation) CME Program.
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| Erica Christensen |
The securitized loan will
be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer
program. HFF previously brokered the
sale of the property to the borrower in an all-cash transaction that closed late
last year.
 |
| Eric Tupler |
Montclair Terrace is
located in the affluent, infill submarket of Raleigh Hills, which is prized for
its short commutes to the Portland CBD, Beaverton and Hillsboro. The opportunity exists to position the
property as an affordable, well-amenitized alternative to the high cost of home
ownership in the Portland market.
The 20-building property has an extensive mix
of studio-, one-, two- and three-bedroom floorplans. The community’s resort-style amenity package
includes a swimming pool and sundeck, two fitness centers, picnic/grilling area
and community garden.
The HFF debt placement
team was led by senior managing director Eric
Tupler and associate director Erica
Christensen.
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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