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The MARQ on Martin Apartments, Lacey, WA
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Charles Halladay
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SEATTLE,
WA –– Holliday Fenoglio Fowler, L.P.
(HFF) announces acquisition financing for The MARQ on Martin, a newly
completed, 248-unit garden-style multi-housing community in Lacey, Washington.
The HFF team worked on behalf of Security Properties to
secure the 10-year, fixed-rate loan with five years of interest only through
Freddie Mac’s CME – Lease-Up Program.
The securitized loan
will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for
Conventional Loans. Loan proceeds were used to acquire the property.
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| Scott Gilson |
The MARQ on Martin comprises studio, one-
and two-bedroom apartment homes featuring modern finishes and amenities,
including stainless steel appliances, in-unit washers and dryers, and walk-in
closets.
In addition, common area amenities include a
swimming pool, spa, sundeck and lounging area, courtyard with fire pit and ping
pong, outdoor dining and grilling area, 24-hour fitness center, clubhouse with
fireplace and billiards and entertainment kitchen.
Completed earlier this year, the community is located at 8545
Litt Drive SE to the south of Interstate 5 and approximately eight miles
northeast of Olympia’s CBD.
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| Robert Bova |
The
HFF debt placement team representing the borrower included senior managing
director Charles Halladay, director Scott
Gilson and analyst Robert Bova.
“This
deal qualified for Freddie Mac’s Lease-Up Program, which is a very competitive
product in the market,” Gilson said. “This loan structure allowed the
borrower to close on the acquisition with an aggressive rate prior to the
property reaching stabilization.”
For more information, please contact:
OLIVIA
HENNESSEY
HFF
Public Relations Specialist
(713)
852-3500
www.securityproperties.com.
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