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The HFF team worked on
behalf of the borrower, Hilltop Residential, to secure a seven-year acquisition
loan with a fixed interest rate of 4.57 percent. The loan has five years
of interest-only payments as well as a flexible prepayment structure.
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| Cortney Cole |
Landmark of Conroe is
situated on approximately 15 acres at 1840 Longmire Road in Conroe, which is
approximately 13 miles north of The Woodlands and 44 miles north of downtown
Houston.
The community is just northwest of the
intersection of Interstate 45 and Loop 336 near local retail and employment
drivers as well as schools in the highly desirable Conroe ISD and recreational
activities at Lake Conroe.
Landmark of Conroe consists of 23 two- and
three-story residential buildings comprising one-, two- and three-bedroom units
averaging 1,159 square feet.
Community amenities include a swimming pool,
lighted basketball and tennis court, picnic/grilling area, car wash,
state-of-the-art fitness center and clubhouse. Hilltop plans to spend
additional capital to upgrade the property’s amenities as well as renovate
units as they turn.
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| Jett Lucia |
HFF’s debt placement
team representing the borrower included managing director Cortney Cole
and analyst Jett Lucia.
Headquartered in Houston, Hilltop Residential provides investors with
tax-deferred income and capital appreciation by acquiring and renovating
multi-family properties located in the southern United States. Hilltop
invests in cities and neighborhoods with strong demographics and positive
employment growth.
For more information, please contact:
CORTNEY COLE
HFF Managing Director
(713) 852-3500
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500
