Financing for Austin, Texas, multi-housing community arranged by HFF
AUSTIN, TX – April 28, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged financing for Vineyard Hills Apartments, a 202-unit, garden-style multi-housing community in Austin, Texas.
HFF worked on behalf of the borrower to secure the 10-year, 3.58 percent fixed-rate loan through a life insurance company lender. Proceeds were used to refinance existing debt on the property. The loan was structured as a forward loan with the rate locked five months prior to closing.
Vineyard Hills Apartments is located at 7631 U.S. Highway 290 West near State Highway 71 in the Oak Hill area of southwest Austin. Completed in 2000, the property has one-, two- and three-bedroom floor plans ranging between 640 to 1,315 square feet each. Community amenities include a swimming pool, heated spa, clubroom and business center. The property is 96 percent leased.
The HFF debt placement team representing the borrower was led by director Robert Wooten.
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.