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| Jeremy Sain |
DALLAS, TX –– Holliday
Fenoglio Fowler, L.P. (HFF) announces acquisition financing for
a six-property multi-housing portfolio totaling 2,048 units in the
Dallas-Fort Worth metropolitan area.
The HFF team worked on behalf of the borrower, Exponential
Property Group, to secure the fixed-rate loan through Global Atlantic Financial
Group.
The six properties in the portfolio are Cedar Point at 2020 Cedar
Point Drive in Arlington (272 units); Emerald Hills & Normandale at 8950 N.
Normandale Street in Fort Worth (398 units); Marine Creek at 4500 Marine Creek
Parkway in Fort Worth (248 units); The Woodlands at 7040 John T. White Road in
Fort Worth (346 units); Pecan Knoll & Broadway at 1051 E. Centerville Road
in Garland (492 units); and Quail Ridge at 1919 W. Tarrant Road in Grand
Prairie (292 units). The assets are approximately 98 percent leased
overall.
The HFF team representing the borrower included managing director
Jeremy Sain.
“We were attracted to this acquisition for many reasons, including
the opportunity to essentially double our DFW portfolio as well as the
attractive returns the properties will make available for our investors,” said
Kim Radaker, founder and managing principal of Exponential Property
Group.
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| Kimberly Radaker |
“Throughout the acquisition, we worked closely with the previous
owner to help us retain the majority of the existing staff as it was important
to us to utilize their individual expertise to help make this new venture a
success going forward.”
“HFF did a remarkable job in quickly identifying Global Atlantic
as an ideal partner,” Radaker continued. “The creative structure Global
Atlantic brought to the table allowed us to close this large portfolio in a
timely manner, and we greatly appreciate both the HFF and Global Atlantic
teams’ flawless performances throughout the entire process.”
For more information, please contact:
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500
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