Acquisition financing arranged by HFFfor 384-unit multi-housing community in Austin, Texas
AUSTIN, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged acquisition financing for Chez Moi, a 384-unit, garden-style multi-housing community in Austin, Texas.
Working exclusively on behalf of Griffis Residential, HFF placed the seven-year, 3.94 percent, fixed-rate acquisition loan with a correspondent life insurance company.
Chez Moi is situated on 20.97 acres at 12100 Metric Boulevard in North Austin with convenient access to MoPac Expressway, Interstate 35 and West Parmer Lane. The property is near major employers in Austin’s tech corridor and is approximately 2.5 miles from The Domain, a master planned, mixed-use lifestyle center. The 94-percent-leased property has a variety of one-, two- and three-bedroom floor plans averaging 893 square feet. Community amenities include a swimming pool with sundeck, hot tub, outdoor fire pit, sand volleyball court, clubhouse, business center, dog park, car wash, nature trail and garage parking.
The HFF debt placement team representing the borrower was led by Eric Tupler, Josh Simon and Casey Wenzel.
About Griffis Residential
Griffis Residential is a multifamily real estate investment company that owns and manages approximately 7,400 Class-A apartment units in Colorado, Texas, Nevada, and Washington. Headed by Ian Griffis, David Birnbaum, and Tom Barta, Griffis Residential focuses on balancing an aggressive expansion strategy with a superior guest experience for its residents. For more information, visit GriffisResidential.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.