Financing arranged by HFF for 454-unit multi-housing community in Dallas area
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged financing for Phase III of Thousand Oaks Apartments, a 454-unit, Class A neighborhood-style multi-housing community in The Colony, Texas.
HFF worked on behalf of Billingsley Company (Billingsley) to secure the 10-year, fixed-rate loan through Prudential Mortgage Capital Company. Loan proceeds were used to refinance existing debt on the property.
Thousand Oaks Apartments is located within Billingsley’s 1,900-acre Austin Ranch master planned, mixed-use community, which includes office, multi-housing and retail. In addition to the nearby amenities at Austin Ranch, the property is situated less than two miles west of the Dallas North Tollway and three miles south of the Sam Rayburn Tollway (SH 121) and is accessible to the Shops at Legacy, Legacy Business Park, Hall Office Park, Granite Park and several major corporate headquarters. The property has one-, two- and three-bedroom units ranging from 609 to 1,520 square feet. Property amenities include five swimming pools, two volleyball courts, outdoor dining areas, two fitness centers, two playgrounds, two community lodges, five on-site restaurants, on-site retail, business center and access to miles of hiking/biking trails.
The HFF debt placement team representing the borrower was led by senior managing director Trey Morsbach and director Jim Curtin.
About Billingsley Company
Founded by Lucy and Henry Billingsley, Billingsley Company owns, designs, finances, leases and manages its properties for the future success of the company’s investments and the success of its tenants. Billingsley Company provides expanded opportunities for its business partners. From build-to-suit projects to fully developed communities, the company is engaged in each step of the process. Delivering smart design integrated with artistic works and natural spaces, Billingsley Company’s developments are life-enhancing communities in which to work, live, play, shop and dine. For further information, visit www.billingsleyco.com.
About Prudential Mortgage Capital Company
Prudential Mortgage Capital Company is a national full-service commercial and multifamily mortgage finance business with more than $87.54 billion in assets under management and administration as of September 30, 2015. Leveraging a 140-year history of real estate finance, the company offers one of the most comprehensive lines of real estate finance products and originates loans for Fannie Mae DUS®, Freddie Mac Program Plus® and specialized affordable housing programs; FHA; Conduit; Prudential’s general account; and other institutional investors. The company maintains a loan servicing portfolio of approximately $85.75 billion, as of September 30, 2015. For more information, please visit http://www.prumortgagecapital.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.