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| Litchfield Place Apartments, 6301 Chief of Love, Southwest Savannah, GA |
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces
it has secured financing totaling $37.85 million for The Place at Alafaya
in Orlando, Florida, and Litchfield Place in Savannah, Georgia.
HFF worked on behalf of the borrower, Beachwold Residential, to place
two 10-year, interest-only, fixed-rate loans with Freddie Mac.
The loans will be
serviced by HFF, a Freddie Mac Optigo℠ lender. Loan proceeds were
used to refinance existing debt on The Place at Alafaya and to acquire
Litchfield Place.
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| The Place at Alafaya Apartments, 11600 MacKay Boulevard, East Orlando, FL |
The Place at Alafaya consists of 36 two-story buildings encompassing
400 one- and two-bedroom units.
Located at 11600 MacKay Boulevard, The East
Orlando property is less than two miles southwest of the University of Central
Florida (UCF) campus as well as multiple lifestyle amenities, parks and
hospitals.
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| Mona Carlton |
The community
features a swimming pool, basketball courts, tennis courts, volleyball courts,
state-of-the-art fitness center, clubhouse, student lounge, hammocks throughout
the property, business center and UCF shuttle service.
Litchfield Place consists of 76 units averaging 1,119 square feet
across eight two-story buildings located at 6301 Chief of Love in the
high-growth submarket of Southwest Savannah, which provides accessibility to
the CBD and the suburban community of Richmond Hill.
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| Elliott Throne |
Additionally, the
property is positioned within 15 minutes of Savannah College of Art and Design
and 10 minutes from Georgia Southern University – Armstrong Campus. The
property was completed in two phases between 2008 and 2014.
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| Jesse Wright |
The HFF debt placement team was led by senior managing director Mona
Carlton, managing director Elliott Throne and director Jesse
Wright.
About Beachwold Residential
Through its vast operational and ownership experience, in-depth
knowledge of its target markets and long-lasting relationships with brokers,
lenders and property managers, Beachwold Residential is able to identify and
acquire undervalued assets that offer superior long-term returns and lower than
average risk.
Beachwold presently
controls more than 60 properties and more than 15,000 multifamily units in
Connecticut, Texas, Florida, New Jersey, Maryland, Tennessee and Virginia.
CONTACTS:
ELLIOTT THRONE
HFF Managing Director
(305) 421-6549
JESSE WRIGHT
HFF Director
(786) 532-2347
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3403
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